Mining for a Brighter Tomorrow Programme Expands Opportunities for Youth and Women
Latest Tanzania civil society news · Mining for a Brighter Tomorrow Programme Expands Opport… explained · updated Aug 13, 2026 · breaking news · latest updates · explained
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.
- Under the programme, gold sellers deliver their gold to one of three BOT-designated refineries, after which BOT pays out within 24 hours and covers all refining costs.
- 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.
- The programme offers a reduced royalty fee of 4%, down from the standard 6%, together with a waived inspection fee and zero-rated VAT on the domestic sale.