The State Mining Corporation (Stamico), the company that manages the tanzanian government’s interests in the mining sector, announced this week the opening of the country’s largest gold refinery.
Located in the town of Mwanza, the unit will generate more revenue for the state, not only by limiting reliance on foreign refineries, but by becoming a feeder for production from other countries in the sub-region.
« Our main source of raw gold will come from artisanal, medium and large-scale miners. We are also expecting raw gold from neighboring countries, » said Venance Mwasse, Stamico’s acting managing director.
Mwasse, who was quoted by Reuters, also said that the Mwanza Precious Metal Refinery started operations by refining 47 kg of gold on April 21.
However, its daily capacity is up to 480 kg, with a purity rate of 99.99% for the gold processed. While gold mining in Tanzania is also artisanal (1 to 1.5 million small-scale miners according to some figures), the increase in the country’s refining capacity is also good news for these players.
Stamico, which has a 25% interest in the unit, plans not only to buy from the miners but also to help them produce more gold. It should be noted that Dubai-based Rozella General Trading and Singapore-based ACME Consultant Engineers PTE Ltd together hold a 75% stake in the refinery.
The refinery is one of the projects supported by the late President John Magufuli, who aimed to increase the contribution of the mining sector to the economy.
Tanzania is one of the main gold producers on the continent, along with Mali, Sudan, South Africa and Ghana.