Tanzania’s central bank to buy gold from four local miners

Gold

Bank of Tanzania has so far purchased 5,022 kg of pure gold worth $554 million.

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Tanzania’s central bank on Monday signed four agreements to purchase 20 percent of the gold mined and refined in the country, marking a major step toward boosting the national economy and empowering miners.

The agreements were signed in the capital Dodoma between the Bank of Tanzania (BoT) and Geita Gold Mining, Shanta Gold Mining Company, Buckreef Gold Company and Geita Gold Refinery.