Mining activity in Tanzania recorded a growth rate of 9.8 per cent in third quarter 2022 compared to a growth rate of 13.1 percent recorded during the corresponding quarter in 2021 according to the Third Quarter Gross Domestic Product (GDP) figures released by the National Bureau of Statistics (NBS).
According to the report, growth was mainly driven by an increase in production of Gold, Diamond, Silver, Coal and Natural Gas.
“During the period under review, gold production increased to 17,516 kg in the third quarter 2022 compared to 14,915 kg produced in third quarter 2021,” the report said.
Diamond production on the other hand increased to 74,462 carats in the third quarter 2022 from 19,418 carat in the corresponding quarter in 2021, coal increased to 774,398 tons in third quarter 2022 compared to 191,607 tons in the correspondence quarter 2021.
Due to the increased production exports of diamond increased significantly to $58.6 million from $3.8 million recorded in the corresponding period in 2021, explained by resumption of production at Williamson Mines following a care and maintenance period according to the Bank of Tanzania (BoT) Monthly Economic Review for November released recently.
The BoT report noted that gold exports, which accounted for 39 percent of goods exports however slightly fell to $2.81 billion, from $2.84 billion recorded in the previous year associated with decrease in world market prices.
Leave a Reply