A Tanzanian delegation, led by Mr. Archard Kalugendo, Assistant Commissioner for Minerals at the Ministry of Minerals, visited Ghana to study the country’s Gold Purchase Programme. The three-member team paid a courtesy call on Mr. George Mireku Duker, Ghana’s Deputy Minister of Lands and Natural Resources in charge of Mines, during their visit to Accra.
Mr. Kalugendo revealed that the Tanzanian government recently passed legislation requiring all mining companies operating in the country to sell 20% of their gold production to the government for value addition. Despite some resistance from mining firms and civil society organizations, the government is committed to enforcing the new law. According to Mr. Kalugendo, bolstering Tanzania’s gold reserves is a strategic move to stabilize the local currency and combat frequent depreciation.
The delegation has already met with officials from the Bank of Ghana (BoG) and will engage with other agencies under the Ministry of Lands and Natural Resources. During the meeting, Mr. Mireku Duker highlighted the success of Ghana’s mining industry, which has generated sustainable revenue to support key government initiatives. He applauded Tanzania’s efforts to learn from Ghana’s experience, emphasizing the importance of knowledge-sharing as Tanzania emerges as a significant player in the mining sector.
Ghana’s Deputy Minister noted that the country is on a similar path toward value addition in mining. He explained that the Ghanaian government had enacted a law requiring 30% of locally produced gold to be sold to the Bank of Ghana for refining. This move aligns with the government’s broader goal of making Ghana a hub for value addition in West Africa.
Mr. Mireku Duker also discussed the success of Ghana’s Gold for Oil policy, which has played a crucial role in strengthening the local currency. He commended the Tanzanian delegation for their interest in this innovative policy and expressed optimism that it could be a game-changer for Tanzania’s economy.
The Tanzanian delegation, which also included Mr. Bahati Minja from the Office of the Treasury Registrar and Mr. Joseph Ngulumwa, a geologist with the Ministry of Minerals, was assured of Ghana’s readiness to share its experiences and expertise in the gold value addition sector.
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