There Tanzania enters the growing group of African countries that aim to resume control over their Auirifere resourcesby imposing new rules for large mining companies. The government has in fact introduced a rule that obliges large scale manufacturers to refine and trade at least 20% of gold extracted directly in the country.
A measure that is part of the wider phenomenon of nationalization of resourcesdriven by the desire to obtain greater local economic benefits in a moment of gold prices in strong rise. In detail, companies that export gold will have to reserve at least 20% of the metal for the central bank of Tanzaniain order to feed national reserves and strengthen internal economic power.
This new approach, which resumes a similar law approved in September 2024has as its objective that of Increase the local added value linked to mining activity, reducing dependence on the export of raw material.
Sector giants such as Anglogold Ashanti Plc and Barrick Gold Corporation, among the major world producers, will be directly interested from this close legislation. As pointed out by the Minister of Finance Mwigulu NCHEMBA in the speech on budget 2025-26, all companies linked by contracts with the state they will have to submit to these new conditionsthus contributing to the development of the internal refining sector.
Burkina Faso follows the same road
There Tanzania is not alone in this political turn: also the Burkina Fasounder the guidance of the military leader Ibrahim Traoré, has decided to nationalize five auriferous concessions transferring them to the public company Sopamib. The measure was formalized this month, almost a year after the start of the legal process, and represents a further example of how African governments are trying to redeem the control over mining wealth of the continent.
These changes mark a turning point in a sector for years dominated by foreign multinationalswho have often left scarce economic benefits to producing countries. Africa now seems oriented to Enhance your home resourcespromoting local employment, investments and infrastructures. In particular, the Burkina Faso, now a fourth manufacturer of African gold, aims to strengthen a sector that represents over 70% of national exports
