M a r k e t N e w s

Tanzania Mining Sector Record 20.5% Growth in Q2 2016

Posted on : Friday, 7th October 2016

 Tanzania’s mining sector grew at a rate of 20.5% in Q2 2016 reaching TZS434b, compared to TZS361b in Q2 2015 with a growth rate of 11.2%.

The results were included in a report recently issued by the Tanzanian National Bureau of Statistics (NBS), covering the country’s GDP performances Q2 2016 GDP.

NBS attributes the growth to an increase in the production of diamonds, Tanzanite, salt, natural gas, gold, copper and silver production.

Tanzania’s diamonds production rose by 10%, from 52,928 carats in Q2 2015 to 58,068 carats in Q2 2016.

During the same period, Tanzanite production went up 32%, from 3,110kg to 4,110kg, while salt production rose from 15,938t to 20,827t, representing an increase of 31%.

Tanzania’s natural gas production reached 11,67m standard cubic feet (MMSCF) in Q2 2016, compared to 7,793 MMSCF in Q2 2015 (+45%).

Gold production in Tanzania rose by 8%, from 10,682kg to 11,577kg, while silver production went up 27%, from 3,827kg to 4,873kg. Tanzania’s copper production increased by 26% to 4.8t in Q2 2016, compared to 3.8t in Q2 2015.


Source : www.tanzaniainvest.com
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