The Mining Commission has released the Mineral Indicative Prices for May 29, 2026, providing updated reference values for gold, silver, and copper on both the international and local markets.
These prices are important for miners, traders, buyers, and government regulators as they guide fair trading, taxation, and valuation of minerals across the country.
The updated bulletin shows continued strong performance in global mineral markets, especially for gold, which remains the most valuable and widely traded precious metal.
According to the report, the World Market Price of gold stands at USD 4,513.70 per troy ounce. When converted into Tanzanian currency, the world market price is TZS 380,547.71 per gram.
The Mineral Market Price, which is used as a reference within the local mining sector, is set at TZS 342,492.94 per gram, while the Buying Centre Price is TZS 334,881.99 per gram.
These figures indicate that gold continues to hold high value, with a significant gap between the world market price and the local buying centre price.
The Mining Commission uses these indicators to help stabilize the market and ensure that small-scale and artisanal miners receive fair compensation while maintaining consistency with international pricing trends.
Silver prices have also shown notable strength in the latest update. The World Market Price for silver is recorded at USD 75.59 per troy ounce.
In Tanzanian shillings, this translates to TZS 6,372.95 per gram. The Mineral Market Price is set at TZS 5,735.66 per gram, while the Buying Centre Price stands at TZS 5,608.20 per gram.
Although silver is less valuable than gold, it remains an important mineral in industrial applications such as electronics, solar energy production, and jewelry manufacturing.
The stable pricing reflected in the report suggests consistent global demand, which continues to support mining activities in Tanzania and other producing countries.
Copper, another key industrial mineral, has also been included in the Mining Commission’s indicative pricing update.
The World Market Price for copper is USD 6.40 per pound. In local currency terms, the price is TZS 37.00 per gram. The Mineral Market Price is set at TZS 33.30 per gram, while the Buying Centre Price is TZS 32.56 per gram.
Copper remains highly important for industrial development, especially in construction, electrical wiring, renewable energy systems, and manufacturing.
Its pricing stability is crucial for both local miners and global industries that depend heavily on copper supply chains.
The Mining Commission’s pricing system is designed to provide transparency and consistency in mineral trading.
By publishing indicative prices regularly, the Commission helps to reduce disputes between miners and buyers, while also ensuring that Tanzania’s mineral resources are traded in line with international market trends.
These prices also serve as a key reference for government revenue collection, as mineral taxation and royalties are often based on official market indicators. This helps strengthen accountability in the mining sector and supports national economic planning.
Small-scale miners, who make up a large portion of Tanzania’s mining workforce, benefit significantly from these published prices.
The information allows them to understand the fair value of their minerals before selling, reducing the risk of exploitation by middlemen or unfair buyers.
It also helps mining cooperatives and trading centers set competitive and transparent purchasing rates.
At the same time, large-scale mining companies use these indicative prices as benchmarks for internal valuation, contract negotiations, and export planning.
This ensures alignment between domestic operations and global commodity markets.
The Mining Commission continues to emphasize the importance of formalizing mineral trade in Tanzania.
By encouraging miners to sell through registered buying centers, the government aims to improve traceability, increase revenue collection, and promote responsible mining practices.
Overall, the May 29, 2026 Mineral Indicative Prices reflect ongoing stability in the global minerals market, with strong values for gold and steady performance in silver and copper.
These figures provide an essential guide for all stakeholders in the mining sector, ensuring that trade remains fair, transparent, and aligned with international standards.
