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Boost in mining sector as President Samia launches 12.2bn/- Mwanza gold refinery plant

Boost in mining sector as President Samia launches 12.2bn/- Mwanza gold refinery plant

President Samia Suluhu Hassan Sunday launched a first-ever gold refinery plant in the country.
The plant trades as Mwanza Precious Metals Refinery (MPMR).
Inaugurating the 12.2bn/- project in Mwanza, Her Excellency President the launched state-the-art  plant will not only boost  the country's revenue remittance but will also spur the region’s prosperity as well.
“The plant will be capable of purifying gold by 99.99 per cent and refine 480kg per day. This new refinery plant is modern and its purity is of high quality, but my concern is on the availability of raw materials...as the government, we have a lot of work to do to enable miners to dig more so that more raw materials are made available,” said the Head of State.
Meanwhile, she noted that the project is expected to provide direct employment opportunities to 120 Tanzanians while 400 others will be employed indirectly.
Due to the development, Samia said, the Central  Bank of Tanzanian (BOT) will start buying gold in  accordance to the law of the land.
 “The plant will also create intense competition with other regions, where 346.5bn/- has been set aside by investors to buy all the gold that will be mined,” she said.
President Samia said that since enactment of the new Mining Law of 2017,  there have been great successes recorded in the sector including increased in mining revenue collection as well as establishment of 39 mineral trading centres and 50 mini-markets for minerals in the country.
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Author: DAILY NEWS Reporter

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