Tanzania Wants Large Miners to Refine, Trade 20% of Gold Locally

Tanzania plans to make it compulsory for large-scale miners to refine and trade at least 20% of their gold output domestically as the East African nation seeks to benefit from a rally in the bullion price and control a larger share of its resources.

Miners that will likely be affected by the move include Barrick Gold Corp., the world’s second largest gold producer, and AngloGold Ashanti Plc.