At a Glance
- Tanzania mandates 20% local gold refining to boost economic sovereignty.
- Barrick, AngloGold face stricter mining rules amid Africa’s resource nationalism surge.
- Tanzania joins Burkina Faso in reclaiming control over gold sector.
Tanzania is ramping up efforts to reclaim control over its gold reserves, requiring large-scale mining companies to refine and trade at least 20 percent of their gold locally.
The move—announced during Finance Minister Mwigulu Nchemba’s 2025–26 budget presentation—is part of a broader push to maximize in-country value from natural resources and boost the role of the Bank of Tanzania (BoT) in gold reserve accumulation.
The new regulation comes amid a surge in global gold prices, driven by economic uncertainty and inflationary fears.
Tanzania’s 30-day timeline to implement the policy positions the country to capture more upstream value and reduce reliance on volatile export markets.
Gold giants like Barrick, AngloGold in the Crosshairs
The policy directly affects multinational miners such as Barrick Gold Corporation and AngloGold Ashanti Plc, both with significant operations in the East African country.
Firms with government contracts will now be required to allocate a fifth of their production for local smelting, refining, and trading.
The regulation follows a similar gold bill passed in September 2024 and signals Tanzania’s deeper commitment to resource nationalism, a trend gaining traction across Africa as countries seek greater sovereignty over strategic commodities.
Burkina Faso expands state control over gold sector
Tanzania’s pivot comes as Burkina Faso takes a parallel route. In June 2025, the West African nation officially transferred five major mining holdings to its state-run firm, SOPAMIB (Société de Participation Minière du Burkina).
The move follows a decree issued by junta leader Ibrahim Traoré, almost a year after initiating the nationalization process.
Burkina Faso ranks fourth in gold production in Africa—behind Ghana, South Africa, and Sudan—and derives over 70 percent of its export revenue from the precious metal.
The new measure reflects a decisive shift toward state-driven mining operations in a bid to retain more economic value within national borders.
Africa’s gold-rich nations embrace economic sovereignty
Across the continent, governments are asserting more control over extractive industries, from gold refining mandates to nationalizations.
These actions are reshaping the power dynamics between African states and global mining corporations, as countries prioritize local beneficiation and long-term economic resilience.
As the global gold trade continues to heat up, African nations like Tanzania and Burkina Faso are signaling that the era of unchecked foreign mining dominance may be drawing to a close.
