The authorities in Tanzania Tuesday announced the seizure of over 4,400 grams of gold worth more than Sh1.2 billion that was being smuggled outside the country’s formal mineral trading system.
Minister for Minerals Anthony Mavunde said the seizure was made on Monday as the result of coordinated efforts by the multi-agency taskforce, which brought together law enforcement agencies to combat mineral smuggling and illegal trade across the country.
He said the government is intensifying efforts to curb illicit trade and safeguard public revenues, with the confiscated gold, weighing 4,402.20 grams, was seemingly being trafficked outside the country, bypassing the official minerals trading system.
Mavunde said that the confiscated gold had been forfeited to the state in accordance with the law and was now being held at the Bank of Tanzania (BoT).
He further directed the taskforce, working together with other law enforcement agencies, to conduct a thorough investigation into the suspect arrested in connection with the gold to establish its origin and intended destination, with the aim of dismantling the entire smuggling network.
“The government, through the Ministry of Minerals, established a Task Force comprising various law enforcement agencies to curb illegal mineral trading and smuggling. This seizure is part of the ongoing efforts to strengthen the country’s mineral trading system,” Mavunde said.
Concern over persistent loss of government revenue through illegal export of minerals is intense as the practice undermines national development by depriving the state of funds needed to improve public services and invest in critical infrastructure, he stated.
Miners, traders and other stakeholders need to conduct all transactions through officially designated markets and licensed buying centres across the country, as that would enhance transparency, improve revenue collection and promote orderly growth of the mining industry, he added.
MG/as/APA