Government Commitment to Strengthen Electricity Supply to Mining Areas

TLDR

• Bank of Tanzania Domestic Gold Purchase Programme BOT launched its Domestic Gold Purchase Programme on 1st October 2024 to implement the 20% gold purchase commitment set out in Section 59 of the Mining Act (Cap 123).
• In addition, it has signed 14 Memoranda of Understanding (MoUs) with investors whose mining projects have yet to reach production, while continuing to expand access to financing for qualified small-scale miners.
• Anthony Mavunde, directed the Mining Commission to extend the operating hours of mineral markets until 9:00 p.m., to give traders and buyers more time to conduct business, making mineral markets more accessible and.
• He added that the Government is strengthening measures against mineral smuggling and taking action against licence holders who fail to develop their designated areas, including revocation of licences for non-compliance.
• The Government is also working with the Ministry of Energy to strengthen electricity supply to mining areas and incorporate strategic infrastructure into mining development planning, the statement said.