By Frank Jomo
A new Tanzanian gold refinery is being financed by a Middle East bank and will help small-scale miners to improve the quality of their gold and generate more from the precious metal.
In a bid to assist small-scale gold producers in Tanzania realize more from their gold production,the Federal Bank of Middle East (FBME Bank) Limited has invested over US$1 million in a new gold refinery plant in the country's Mwanza region. The refinery according to the bank, will add value to gold exports from the small-scale miners.
Fadi Saab, FBME Bank Chief Executive Officer told reporters in Dar Es Salaam that the refinery would target small-scale miners because without a defined market, they have been losing out to middlemen and other businessmen in the black market and to smugglers. This time around, the new refinery would afford small-scale miners to improve the quality of their gold and generate more from the precious metal.
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http://www.mineweb.net/mineweb/view/mineweb/en/page34?oid=21260&sn=Detail
