AfricaPress-Tanzania: FOR the first time, Tanzania’s first ever gold refinery plant is ready to kick off operations after its construction in the country’s capital, Dodoma, has been completed.
During an exclusive interview with the ‘frica-press’, Eyes of Africa Ltd (EOA) Managing Director (MD), Mr Ferenc Molnar, said the factory, which is located near Dodoma Airport, is now ready to begin its operations.
Yesterday, Minister for Minerals Dotto Biteko said during a telephone interview that he had been informed by the management of the company that the refinery was ready to process gold produced in the country at the recommended international tradable standards of 999.9 purity level.
“This comes as good news as we will from now on start exporting as well as storing at the Bank of Tanzania (BoT) purified gold instead of exporting raw materials to foreign countries,’’ he said.
According to the MD, the commissioning of the gold refinery plant is expected to propel development of the gold industry in the country as well as creating more employment opportunities and raise revenue for the government.
This means that from now onwards, the refinery will start exporting fully refined gold. Previously, Tanzania used to refine gold outside of the country, but President John Magufuli invited investors to establish gold refineries in the country.
Gold produced in the country ranges between 70 and 90 per cent purity, implying that the country has associated minerals that are not sold.
According to the EOA boss, the new refinery will start recovering all accompanying minerals and improve gold to international tradable standards of purity, meaning that all minerals recovered can be sold.
The commissioning of the gold refinery plant is expected to propel development of the gold industry in the country.
Furthermore, it will also help to curb illegal gold exports out of the country, according to EOA Chief Operations Officer Prince Mugisha.
Estimates indicate that more than 90per cent of the gold produced by small-scale miners in the country are illegally exported to other countries.
With the new plant, refined gold and other minerals can be sold at the price higher to the world market.
Mr Mugisha told the ‘Daily News’ that EOA was ready to start the operations now and that it will be able to receive gold for refining from small and major mining companies.
“The location of the refinery is convenient as it is in the centre of the country, approachable by cars or small aircrafts which can fly straight from the mines to the facility with raw gold without stopping to refuel, and it is safe to transport out refined gold,’’ added Mr Mugisha.
According to the company’s Chief Operations Officer, Eyes of Africa (EOA) is a state-of-the-art Tanzanian based company established in 2002.
The facility uses the latest technology and offers the highest quality products of international standards in line with refining and manufacturing of precious metal bars and coins.
