Call for Independent Sampling of Gold / Copper Concentrates
The Tanzania Chamber of Minerals and Energy (TCME) has noted the findings of the first Presidential Committee which investigated the mineral content and composition of copper concentrate in the containers sitting at the port of Dar es Salaam and the Mofed ICD Terminal. The findings were made public on 24th May, 2017 at the State House, Dar es Salaam. As the Chamber, we have a number of concerns on the findings presented by the Chairman of the Committee.
Bulyanhulu Gold Mine Limited, which operates the Bulyanhulu mine and Pangea Minerals Limited, which operates the Buzwagi mine are the only large scale mines in the country exporting metallic mineral concentrate. The two mines are members of TCME. Both mines are owned by Acacia Mining plc, which is listed on the London Stock Exchange and cross-listed on the Dar es Salaam Stock Exchange. The listings subject Acacia to extensive disclosure requirements and regulatory frameworks governing both markets. Their operations undergo annual operational and financial audits at the international and local level. Over the years that they have been operating in the country, none of their audit sampling and analysis undertaken by a range of international and local companies, have returned results in line with the findings of the Presidential Committee. This is a matter of serious concern to the TCME and the overall mining industry in Tanzania.
Whilst the TCME appreciates the efforts of H. E. President John Pombe Magufuli in ensuring that Tanzania gets its rightful share from its mineral resources, we believe that the scale of the discrepancy between the Committee findings and the results declared by our two members is so high such that it warrants an independent review by an internationally accredited laboratory, of the mineral content and composition in the concentrates. Results from the independent review will provide clarity and certainty that will clear the confusion that has so far engulfed the mining industry inside and outside the country.