Crackdown on Smuggling Revives Tanzania Gold Industry
- Gold exports surged 43% in year through August: central bank
- Barrick restarted shipments after dispute with Tanzania ended
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Tanzania’s gold-mining industry is showing signs of a renaissance following a crackdown on smuggling and the settlement of a long-running dispute with Barrick Gold Corp.
Gold has overtaken tourism as the East African nation’s biggest foreign-exchange earner, while Barrick’s joint venture with the Tanzanian government paid its first cash dividend of $250 million earlier this week.