Over 100 dealers in northwest Tanzania licensed to auction gold

Authorities in Tanzania said on Sunday that 127 dealers have been given licenses to auction gold in the country’s northwest region of Geita.

Robert Luhumbi, Geita regional commissioner, revealed the number when he inspected a center to be used for gold auctioning.

Luhumbi said the center will be opened soon after completion of all preparations, including putting in place security facilities, including installation of CCTV cameras and deployment of specially trained police officers and banking institutions.

Last month, Tanzanian President John Magufuli ordered newly appointed Minister for Minerals Doto Biteko to put to an end to the smuggling of gold out of the east African nation by opening gold auction centers.

Tanzania is Africa’s fourth biggest gold producer after South Africa, Ghana, and Mali.