Tanzania’s gold reserves are estimated at about 45 million ounces. Gold exploration has been centered mostly on the greenstone belts around Lake Victoria, where several large deposits have already been discovered and are being developed.
Tanzania Gold Production
Gold production in Tanzania stood at 39 tonnes in 2018, compared to 43 tonnes in 2017 (-10%) and 40 tonnes in 2014 (-3%). Tanzania’s gold production increased by more than 700% over the past 25 years, from 5 to 40-50 tonnes per year, while South Africa’s production of gold decreased from over 500 tonnes in 1990 to 117 tonnes in 2018.
Tanzania Gold Export
Tanzania’s gold exports accounted for USD 2.2 billion of total exports in 2019, representing more than 90% of the country’s mineral exports. Gold exports increased by 83% over the past 5 years with USD 1.2 billion in 2015. Tanzania exports gold mainly to South Africa, India, and Switzerland.