(formerly IRIN News) Journalism from the heart of crises

Gold bonanza forecast

[DRC] Antoanella-Iulia Motoc, the UN special rapporteur on the human rights situation in the Democratic Republic of the Congo, 30 Aug 2003.

Analysts are tipping Tanzania as the new star of African mineral producers, according to the Financial Times. Last year Tanzania attracted more capital expenditure than any other African country. Its first gold mine, Golden Pride, is to open this weekend. It should produce some 180,000 ounces a year initially. But it will soon be dwarfed by Bulyanhulu, which is forecast to yield more than 300,000 ounces annually by the year 2,000. When all new projects are on stream, Tanzania is expected to produce 1 million ounces of gold a year.

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