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Tanzania gold refinery starts producing in drive to boost revenue
via Yahoo News, Sunnyvale, California
Thursday, April 29, 2021
DAR ES SALAAM, Tanzania -- A new gold refinery set to be the biggest in Tanzania has begun production in a step towards the government's aim of processing more of the precious metal domestically.
Africa's fourth-biggest gold producer and home to industrial gold mines run by Barrick, AngloGold Ashanti, and others, Tanzania has been trying to formalise subsistence gold mining and develop refineries to generate more revenue from the sector.
... Dispatch continues below ...
Honey Badger Silver's Chad Williams
talks with Chris Marcus of Arcadia Economics
Honey Badger Silver's executive chairman, Chad Williams, tells Chris Marcus of Arcadia Economics that "inflation is here" already and that rising interest rates didn't impede gold and silver in the 1970s and won't necessarily impede them today.
Honey Badger Silver is a Canadian silver company based in Toronto that is building a portfolio of silver and other assets. The company has a big position in Ontario's prolific Thunder Bay Silver District. The company's shares trade on the TSX Venture Exchange under the symbol TUF and over the counter in the U.S. as HBEIF. The company's internet site is here:
Williams' interview with Marcus is 25 minutes long and can be viewed at YouTube here:
The refinery -- in Mwanza, a city on Lake Victoria -- is processing gold from sources including subsistence or "artisanal" miners, Tanzania's State Mining Corp. (STAMICO), a 25% shareholder, said.
Subsistence miners have been estimated to number around 1 to 1.5 million in Tanzania, though the actual number could be much higher. Gold mining has become more attractive as prices jumped. ...
... For the remainder of the report:
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