Tanzania Targets Setting Up Mineral Exchange by End of 2018

(Bloomberg) -- Tanzania plans to establish a minerals exchange by the end of this year, in a bid to ensure the East African nation reaps the most from its resources, Minerals Minister Angellah Kairuki said.

The nation’s resources including gold, diamonds, iron, silver, copper, graphite and other rare earth minerals such as gemstones.

“We will take into consideration the laws to ensure that this plan is successful,” Kairuki said in a statement on a government website.

Officials from the Tanzania Mercantile Exchange, which was launched in 2015 to trade agricultural produce and has yet to start, will help develop the mineral exchange, the minister said.

To contact the reporter on this story: Ken Karuri in Dar es Salaam at kkaruri@bloomberg.net

To contact the editors responsible for this story: Paul Richardson at pmrichardson@bloomberg.net, Helen Nyambura, Michael Gunn

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