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Tanzania’s Mining Commission has released the latest indicative mineral prices, showing gold maintaining its dominance in both global and local markets, while silver and copper continue to follow a similar pricing structure shaped by international benchmarks and domestic trading conditions.
According to the April 14 update, gold remains the most valuable mineral, with its world market price standing at 4,784.10 US dollars per troy ounce, equivalent to about 401,743.81 Tanzanian shillings per gram.
At the domestic level, the mineral market price has been set at 361,569.43 shillings per gram, while buying centres are offering approximately 353,534.55 shillings per gram.
The data reflects a consistent price hierarchy in Tanzania’s mineral trade, where global benchmark prices sit at the top, followed by mineral market prices, and finally buying centre prices.
The differences account for costs related to transportation, refining, compliance, and dealer margins within the local supply chain.
Silver, though significantly lower in value compared to gold, continues to show stable performance. The global price is currently at 76.95 US dollars per troy ounce, translating to 6,461.86 shillings per gram.
Locally, the mineral market price stands at 5,815.67 shillings per gram, while buying centres are offering 5,686.44 shillings per gram.
Copper prices, quoted globally in pounds rather than troy ounces, are at 5.99 US dollars per pound. This converts to approximately 34.49 shillings per gram in the Tanzanian market.
The mineral market price has been placed at 31.04 shillings per gram, with buying centres purchasing at around 30.35 shillings per gram.
The Commission noted that while international prices are determined by global commodity exchanges, local prices are adjusted to reflect operational realities within Tanzania’s mining sector, including logistics and processing costs.
The continued strength of gold highlights its role as a key revenue driver in the country’s extractive industry, supporting both large-scale mining operations and artisanal miners across the country.
Meanwhile, silver and copper remain important for industrial use and export diversification.
The Mining Commission regularly publishes indicative prices to guide traders, miners, and investors, ensuring transparency and alignment with global market trends while supporting fair trade practices within Tanzania’s mineral sector.
