TMAA Annual Report 2012

This report covers results of auditing activities performed by Tanzania Minerals Audit Agency in the year 2012. The report addresses the status of implementation of the audit program and highlights key findings and achievements.

The task of auditing quality and quantity of mineral products from the major mines was omprehensively undertaken by TMAA in 2012. Gold production from the major gold mines (from gold bars and Copper Concentrate products) decreased by 3.1% from 1.29 million troy ounces in 2011 to 1.25 million troy ounces in 2012. Geita Gold Mine (GGM) was the leading gold producer in 2012 with 42.9% of total production. Shanta Mining Company Limited poured its first gold at its New Luika Gold Mine (NLGM) on 25th September 2012.

Total mineral exports in 2012 from gold bars and Copper Concentrate produced by the seven major gold mines (Bulyanhulu, Buzwagi, Geita, Golden Pride, New Luika, North Mara and Tulawaka) were: 1.27 million troy ounces of gold worth USD 2.1 billion; 11.82 million pounds of copper worth USD 42.22 million; and 341,266 troy ounces of silver worth USD 10.50 million, making total worth of USD 2.16 billion, 0.46% lower compared to USD 2.17 billion realized in 2011.

Mineral royalty paid to the Government by the seven major gold mines during the year under review was USD 71.1 million. This presents an increase of 9.9% compared to USD 64.69 million realized in 2011. However, the Government is expecting to collect USD 74.93 million in total as royalty for the year 2012 once final royalty is paid.

Attachment: attachment Annual_Report_2012
© 2018 Tanzania Minerals Audit Agency (TMAA) All Rights Reserved.