Gold boom fuels mineral recovery growth
TANZANIA, July 31 -- MINERAL recovery value jumped nearly 45 per cent in the first quarter, driven by a surge in gold production that offset sharp declines across most other minerals and reinforced bullions dominance of the countrys mining industry.
The value of selected mineral recoveries rose to 1.61 billion US dollars in the quarter ending March this year from 1.11 billion US dollars a year earlier, according to the Bank of Tanzanias Consolidated Zonal Economic Performance Report.
The 44.7 per cent increase was almost entirely underpinned by higher gold output, highlighting the precious metals growing importance to export earnings and foreign exchange inflows.
According to the report, gold recovery value climbed 61.3 per cent year-o...
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