Mineral trading company suspended over 562m/- gold scandal

SHINYANGA: The government has suspended all nationwide licenses belonging to Nadoyoo Mineral Trading Company following the interception of over 4.3 kilograms of gold worth over 562.3 m/-.

The stern move comes following the apprehension of a person linked to the company, who was caught red-handed attempting to smuggle a substantial haul of gold.

The gold was seized during a surprise operation conducted at night by the Minister for Minerals, Anthony Mavunde.

Speaking after confiscating the precious metal, Mr Mavunde said that the government would not tolerate the involvement of a few individuals in such illicit acts of mineral smuggling.

“I want to make it clear; we will take strict actions against anyone caught engaging in mineral smuggling,” he said.

He added, “When I took office at the Ministry of Minerals a month ago, I said, if you want to see my different side, try smuggling minerals…starting today, anyone caught in the act of mineral smuggling will have all their licenses suspended nationwide, pending the judgment of the legal authorities.”

Equally, he said that all confiscated minerals would be stored by the government and sent to the Bank of Tanzania (BOT) awaiting the court’s decision.

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