In recent years the gold mining industry has played a crucial role in the Tanzanian economy. Gold has emerged as the country’s leading foreign exchange earner with Saudi Arabia buying 99% of the country’s output. Gold exports have grown from negligible levels in the early 1980s to where it now accounts for 23% of the country’s export earnings.

Tanzania is now the fourth largest producer of gold in Africa, after South Africa, Ghana and Mali. Gold production currently stands at roughly 40 tonnes a year and this is increasing year upon year. Given the quantity of gold still to be exploited, this will continue for a considerable period of time to come.