East Africa To Launch First Gold Trading Hub to Fight Smuggling

Tanzania will launch an international gold trading centre in the gold-rich region of Geita, the centre is among reforms introduced in the mining sector in the past three years to curb mineral smuggling. In February 2019, parliament reviewed and approved the Mining Act to allow the Mining Commission to establish mineral buying and selling centres, the bill will also relieve small-scale miners of the burden of paying withholding tax of 5% and an 18% value added tax.

Photo: Pixabay

(file photo).

InFocus

See What Everyone is Watching

Don't Miss

AllAfrica publishes around 600 reports a day from more than 150 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.