Tanzania plans to further tighten controls on its mining sector to maximise the benefits from its wealth of natural resources.
President John Magufuli has defended the government’s recent introduction of new regulations. They’re aimed at ensuring that the benefits of the sector are shared more equitably with the state. President Magufuli has promised to root out tax evasion, corruption and mismanagement in the sector. Tanzania has vast deposits of natural gas, coal, diamonds, uranium and gemstones. Gold exports alone earned Tanzania $1.27 billion in 2015.
Major gold mining companies in Tanzania include Acacia Mining and AngloGold Ashanti.