TANZANIA

Nyakafuru Gold Mine is located in the world-class Lake Victoria Gold Fields in Tanzania, one of Africa’s largest gold producing regions.
Licences cover the south-western end of the Siga-Mabale Greenstone Belt, 60km SW of Barrick Gold’s 18Moz Bulyanhulu Gold Mine Current JORC compliant resource of 658,751oz at 1.67g/t defined at the Voyager, Mentelle, Cullen, Leeuwin-Grange Significant expansion potential with multiple other exploration targets identified, several with significant drill intercepts.

GOLD STATISTICS

Gold Production
1. Annual Production: Tanzania is one of Africa’s largest gold producers, with an annual production of around 45-50 tonnes of gold.
2. Ranking: Tanzania ranks among the top five gold producers in Africa.

Exports

1. Value: In 2020, gold exports from Tanzania were valued at approximately $3 billion, making gold the country’s leading export commodity.
2. Contribution to GDP: Gold mining contributes around 3.6% to Tanzania’s GDP and constitutes more than 90% of the country’s total mineral exports.

Investment

1. Foreign Investment: Tanzania has attracted major international mining companies, including Barrick Gold and AngloGold Ashanti, which have significant operations in the country.
2.Local Investment: The government encourages local participation in the mining sector, and there has been an increase in small to medium-sized Tanzanian-owned mining operations.

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