Tanzania gold exports surge 59.2pc in Sept
Monday, 13 December 2010
DAR ESS SALAM, Dec 12 (Commodity Online): Tanzania's gold exports rose by 59.2 per cent in the year to September 2010 due to an increase in both export volumes and gold prices on the world market.
Exports value increased to $1.5 billion from $906.5 million recorded in the same month in the previous year, according to country's central bank.
"Statistics indicate that the export volume of gold has increased to 36.8 tonnes compared to 31.0 tonnes recorded in the preceding year, partly on account of commencement of export by the Buzwagi Gold Mine," Bank of Tanzania added.
The prices of gold, according to the report, increased to $1,157.9 per troy ounce in September 2010 compared with $896.2 per troy ounce recorded during in September 2009. Tanzania is Africa's fourth largest gold producer after South Africa, Ghana and Mali.
Meanwhile, the value of manufactured goods increased to $808.1 million, being 54.7 per cent higher than the value recorded in a similar period in 2009, consistent with the recovery of the global economy from the financial crisis.
Exports value increased to $1.5 billion from $906.5 million recorded in the same month in the previous year, according to country's central bank.
"Statistics indicate that the export volume of gold has increased to 36.8 tonnes compared to 31.0 tonnes recorded in the preceding year, partly on account of commencement of export by the Buzwagi Gold Mine," Bank of Tanzania added.
The prices of gold, according to the report, increased to $1,157.9 per troy ounce in September 2010 compared with $896.2 per troy ounce recorded during in September 2009. Tanzania is Africa's fourth largest gold producer after South Africa, Ghana and Mali.
Meanwhile, the value of manufactured goods increased to $808.1 million, being 54.7 per cent higher than the value recorded in a similar period in 2009, consistent with the recovery of the global economy from the financial crisis.