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Tanzania to Add Gold to Reserves, Resume $3 Billion Iron Project

Tanzania to Add Gold to Reserves, Resume $3 Billion Iron Project Jun 14 2021, 9:30 AM June 13 2021, 8:14 PM June 14 2021, 9:30 AM (Bloomberg) (Bloomberg) Tanzania launched a new gold refinery as its central bank plans to start buying the metal to diversify its reserves. The Mwanza Precious Metal Refinery Ltd. is able to process 480 kilogrammes of gold per day, and plans to double the capacity in a few months, Tanzanian President Samia Suluhu Hassan said in a televised speech on Sunday. The nation’s State Mining Corporation has a 25% stake in the project, while Dubai-based Rozella General Trading LLC and Singapore’s ACME Consultant Engineers PTE Ltd. own the rest.

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