He said upon the takeoff, the Mwanza based refinery to purify gold up to by 99.99 per cent, has the capacity of refining 480 kgs of gold per day, thus contributing immensely to the development of the sector.
The minister made the remarks during a seminar of members of the Parliamentary committee on Energy and Minerals over laws and regulations governing the mining sector in the country, noting there are already three refineries in the country
Minister Biteko explained that the the refineries are in the regions of Geita, Mwanza and Dodoma with capacities of refining 500gk, 480kg and 50kg per day respectively.
He assured that once the Mwanza Precious Metals Refinery become operational it would make the country sell purified gold at a higher price.
“Price of the gold itself will increase because it would be totally purified and be sold at an end price. The plant will also create 100 employments at the initial phase of operation,” he said.
He termed the development as a big revolution in the mining sector since such technology never existed in the past when gold mined in Tanzania had to be sent to Dubai or Swaziland for refining.
“We have made trials in this new refinery plant and we have got good results. Therefore, we will soon start purifying our gold in the factory,” noted the minister.
He said some of regulations presented to the Parliamentary committee were those governing the Tanzania Extractive Industry Transparency Initiative (TEITI) whereby the country has made a big step in meeting the requirements.
Initially there were 18 requirements that Tanzania had not met, but currently only have remained only seven that seem to contradict with the country’s laws.
Commenting, chairperson of the committee, Dustan Kitandula, said building capacity among members of the committee was crucial to improve their supervision on the sector and the government.
“Basically, we are satisfied that these regulations meet expectations, there are minor changes needed, but this cannot affect performance and supervision of the mining sector,” he stated.