Pamoja Issue 17
With gold prices falling in June to around $1,200 an ounce for the first time since 2010, and currently hovering at around $1,300 an ounce, this year has become difficult for gold miners globally. Indeed, in Tanzania, our gold mining industry has been hit hard. The story is complex with mining firms facing losses and worse as they react to the current prices in a high cost environment. Importantly, while gold prices
have risen considerably over the last decade, so too have mining costs and tax burdens.