Andrew Racz
Director of Research
300 East 54 Street, Suite 26C
New York, NY 10022
Phone: (212) 319-6949
Fax: (212) 753-1944

The Emergence of Tanzania

June 4, 2008

This East African nation of 40 million is considered one of the poorest in the world. Yet, circumstances are in Tanzania's favor. Gold and agriculture can lift its $4-5B GNP—influx of foreign capital, increased mineral and agricultural process are opening up untold opportunities. First and foremost – they have arable land.

Political leadership is vital!!

Tanzania has no foreign entanglements, its credit in the international banking world is solid.

It is attracting Chinese and Indian capital. Ten million a piece – but hundreds could be coming.

Is Tanzania a silent but solid part of the

African Economic Miracle?

When Tanzania modernized its Mining Act in 1998, it attracted numerous international mining companies including AngloGold Ashanti, Barrick, Newmont and Placer Dome. Now the third largest gold producer in Africa, Tanzania is quickly emerging as one of the premier gold mining countries in the world.

Tanzania – A Stable Democratic Country

  • Tanzania gained peaceful independence in 1961.

  • English-speaking democratic country using British Common Law.

  • Good infrastructure and accessible labor pool of local geologists.

  • Endorsed by the World Bank and International Monetary Fund.

  • Modernized Mining Act in 1998 to attract foreign mining companies.

  • The third largest gold-producing nation in Africa.

  • The fastest growing gold-producing nation in the world.

Gold in Tanzania

Tanzania has attracted all the major international mining companies including:

AngleGold Ashanti, Barrick, BHP, Newmont and Resolute.

Current Mine Reserves and Resources

























North Mara






Golden Price


















Gold in Perspective

One and a half million (1.5M) ounces of annual production of gold is a revenue base of $1.5 billion. At $2,000 gold price, the sum would be $3.0 billion—more than 50 percent of Tanzania's current GNP.

With cheap labor and industry account for 20 percent of total GNP—a rapid growth in employment and industrialization can begin. Furthermore, gold and other minerals attract foreign capital.

In 2007, the world began to reflect upon the growing crisis in of agriculture. Tanzania is agriculture!! It is twice the size of California. With 50 percent increase in corn, wheat and soybeans—and further growth in demand expected, a growth in agricultural investment is assumed.

Such development leads to:

  • Foreign capital committed to agriculture

  • Higher exports at higher prices.

  • Stable case flow.

  • Increased investments in infrastructure.

  • Growth in Taxation and Government investment.

The following numbers are approximations (2010):



Gold revenues


Foreign mineral investment


Foreign agricultural investment


Per capital income can grown from $1,000 in 2007 to $2,000 by 2012-15.

The Current Agricultural Crisis

The 21st century has never been said to be the successor of colonialism and the colonist empires of the international unlicensed biofuel merchants.

Once upon a time there were rubber plantations. The people in Pakistan were poor.

Once upon a time there were gold mines in South Africa and the people in the Orange-Free State were poor.

Once upon a time there were rice paddies and the people in Vietnam were poor.

It wasn't that the colonist rulers didn't know how to run a mine or what was selling well on the world market. They did what they wanted to with the original African population and they simply did it. They made a lot of money.

Comes Tanzania—40 million population with a GNP of $4.5 billion and 80% agriculture in the country.

At the time when agricultural prices are soaring—corn almost $6, wheat over $5, soy bean at $12—and the Tanzanians are poor, but a new world of opportunity emerges.

Biofuels take up land, are easy to make, cheap compared to agriculture, and provide big profits for the industrialized world.

But, Tanzania has to become a winner. Moneyed foreigners buy up the land, tied up for 10 years, and turn it into biofuels. Once again unscrupulous modern day colonists deprive a poor nation, deprive them of the potential profits in corn and even dislocating Tanzanians at will. — My advice is… fight them. Seek friendly foreign investment.

Once upon a time Graham Greene wrote a book, and Marlon Brando made a movie, "The Ugly American."

What's happening in the year 2008 with Tanzania, where agriculture could lift this poor nation among respected nations in Africa, the biofuels resurrect the age of colonialism which, in 1954, Prime Minister Mendez-France declared: "The era of de-colonization has begun."

This is counter-revolution! This is an insult not only to Tanzania, not only to Africa, but to the progress of the United Nations. The G-8 nations are supposed to lead. Let them practice. The 21st century has never been said to be the successor of colonialism and the colonist empires of the international unlicensed biofuel merchants.

Worldwide investment in biofuels rose from $5 billion in 1995 to $38 billion in 2005 and is expected to top $100 billion by 2010, thanks to investors like Richard Branson, GE and BP, Ford and Shell.


$100 billion

Days one person could be fed on the corn needed to fill an ethanol-fueled SUV

Estimated size of 2010 biofuel market

My advice is: Wake up Tanzania.

Tanzania in Perspective

Tanzania is one of the poorest countries in the world. It is twice the size of California and its boundaries are Kenya, Uganda, Zambia, Mozambique and the Indian Ocean. Having ports or potential ports and airports could actually accelerate the growth of this country of 40 million people.

The country's climate is tropical along the coast of the Indian Ocean and temperate in the islands. It has a population of 40 million people and has the lowest median age in the world, approximately eighteen years. The country was decimated by HIV/AIDS-related illnesses and the turnaround in such unfortunate circumstances is, again, a potential growth for the country in the future.

Ninety-five percent of the population is Bantu, with some mixture of Arab and other African nations consisting of five percent.

The country is a democracy. The name of the country officially is the United Republic of Tanzania. Its capital is Dar-es Salam. It is eight hours before Washington.

The constitution was written in October 1984. It designates a chief of state who is also president of the country. The current president is Jakaya Kikwete. The cabinet is appointed by the president from members of the National Assembly, The recent election gave Mr. Kikwete a majority vote of 80.3 percent. The National Assembly, called Bunge, has 274 seats, of which 232 are elected by popular vote, 37 allocated to women nominated by the president and 5 members of the Zanzibar House of Representatives.

The Permanent Commission of Inquiry consists of a chief justice and four judges. The political parties are the Party of Democracy and Development, the Revolutionary Party, and the Tanzanian Labor Party. Tanzania has representation in the United States under Ambassador Ombeni Johana Sefue, 2139 R Street N.W., Washington, D.C. 20008, Tel. 202-935-6125, Fax. 202-797-7408. Representation at the United Nations is Ambassador Mark Green, whose office is in Dar-es Salam.

Tanzania is one of the poorest nations in the world. The entire economy is based on agriculture, which provides 85 percent of the exports and employs 80 percent of the workforce. The country has traditionally been the recipient of World Bank and IMF loans.

Long-term growth is now accelerated because of mineral resources, particularly gold and other minerals. The gross national product is about $4.5 billion, per capita income of $1,100. The labor force is 80 percent in the agricultural segment.

As an illustration, one million ounces of gold production is a billion dollars, which is meaningful when we look at the total export/import market. The budget is about S3 billion. Domestic expenditures amount to $3.5 billion, and public debt is 24 percent of the GNP. The mineral products which include some diamonds, gold, iron mining and fertilizers would accelerate the elimination of impoverishment of the country. It has good trading relationships with China, India, the Netherlands and Japan, each amounting to about 7 percent of exports, and the imports amount to $4.6 billion in total. Import partners are South Africa, China, Kenya, India and the United Arab Republic.

It is easy to see that if we superimpose $2-3 billion future potential revenues from mining resources, the country's small external deficit would turn into a loss and cash would be available to develop industries and actually absorb some of the working population. Surprisingly, the foreign exchange and gold reserves are $2.4 billion. The addition in a five-year period of some $10 billion surplus would change the monetary stature of the country in the world.

The Tanzanian mineral policy recognizing the rising volume of revenues generated by the new mining industry, Tanzania is trying to provide a tax structure which is fair to the country but at the same time keep or even attract foreign private companies to explore the potential mining assets of the country. The country is lucky to have some of the largest mining companies operating there, such as Barrick Resources, Resolute Mining Ltd. of Australia, Anglo Gold Ashanti Ltd. of South Africa and London, and Tanzanite Ore from England.

The current thinking is, and the finance minister recently announced, that Tanzania will have an effective tax rate on [miner's profit] of 47 percent, up from 31 percent, but introduce a range of measures including windfall variable profit taxes all lumped together. The Tanzania mineral companies pay 30 percent in corporate tax and royalties of up to 5 percent for diamonds and gold.

These numbers are now being debated, and President Kikwete is working on a comprehensive mineral tax clause. It is important to mention that the Tanzanian government is fully aware that it has no capital to invest in building a mining industry, and at the same time it needs a fair shake from the profits that commodity prices are now bringing.

On May 14, Tanzanian finance minister Mkulo submitted a budget. It has reviewed the tax system, recognizing that Tanzania, next to South Africa and Ghana, is the continent's third gold producer, The government is anxious to become a number two gold producer in Africa and accelerate the production with the monetary realities of the world. This East African nation will need 300,000 metric tons of corn this year but has sufficient rice requirements. The finance minister said that all these factors contribute to inflation and the best way to curtail inflation is to produce hard currency through the mining industry and offset the growing prices in the agricultural segment.

Furthermore, the minister of finance also mentioned that the development of industrial companies based on the profits of the mining companies is the best way to fight poverty in the country and therefore he emphasized that foreign companies mining Tanzania's mineral resources is a matter of prime consideration.

Douglas Lake Mineral in Perspective

DLKM Prospecting Licenses Position

  • Owns exploration assets consisting of 38 properties covering 9,788 sq. km.
  • The properties constitute a wide variety of prospects and mineral potential within north, northwest, central and southwest Tanzania.
  • The mineral potential is predominantly focused in gold, but also includes diamond, gemstone, uranium, PGM and base metals.
  • Areas of interest include Sukumaland belt, Musoma – Mara belt, SE – LVGF, Tabora, Morogoro, Dodoma – Singida belt and Njombe-Mbozi – Rukwa belt. 

Morogoro Project

  • Located 35 km west of Morogoro town.
  • Consists of two prospecting licenses (PL 3117 & PL 3510) covering an area of approximately 240 sq. km.
  • The project is potential for gold deposit.

Regional Geology

  • Palaeoprotezoic mobile belt (meta-igneous and meta-sedimentary) – Uluguru Block, reworked during the Neoprotezioc tectonothermal event.

  • High grade metamorphic rocks comprising garnet-biotite gneiss, garnet-hornblende gneiss, garnet-amphibolite gneiss, garnet-amphibolite, garnet-quartzo-feldspathic gneiss and granulite; and gneissic anorthosite – plagioclase, hornblende and garnet.

  • Late intrusives include quartz – microcline veins and dykes, pegmatite dykes and quartz-pegmatite dykes.

  • Metamorphic grade is upper amphibolite-granulite facies.

  • Structure: Dominant structural orientation NW-SE, NNW-SSE and NE-SW trends interpreted as shear zones, fold hinges and faults.

Douglas Lake Corporate Team

Honorable Joseph Rugumyamheto - Chairman of the Board

David Groves - Director

Harp Sangha - CEO/President and Director

Antonia Haughton - Chief Financial Officer and Director

Gus Sangha - Director

The Honorable Joseph Rugumyamheto retired in January 2006 after 30 years of public service in Tanzania. For the past five years, Hon. Rugumyamheto has been the Permanent Secretary in the President's Office of Tanzania, reporting directly to the President of Tanzania. He graduated from Stanford University in the U.S. and was responsible for all civil servants in the Tanzanian government.

Douglas Lake has a busy and historical month in May and June 2008.

On May 9, the company announced that it has concluded an agreement with Tanzanian National who had mineral rights to four prospecting licenses. The area of 430 square kilometers and have high gold concentration in the area.

The area has alluvial gold deposit property licenses. The current production generates, without maximized mining equipment, about 150-200 high-grade gold per month. Even at that rate, with 2,000 pounds yearly production, the revenue is $2 million per annum.

Engineering studies indicate that with sufficient capital investments, the production can increase 200,000 pounds per year. At the current price of $1,000 per pound, this would be equivalent to $100 million per annum, which is equivalent to $250,000 revenue per share, a considerable difference with the current share price of less than 50 cents.

During the month of May, management had negotiations with Chinese businessmen. This negotiation moved to Beijing. There are favorable indications that an agreement will be concluded in the early part of June 2008 whereby the Chinese company will inject monies for working capital and acquire 20 percent of Douglas Lake at the price around or higher than the current 45 cents per share.

Chinese Institute Invests $6 Million in Douglas Lake Minerals

VANCOUVER, June 2 /PRNewswire-FirstCall/ - Harp Sangha, CEO/President of Douglas Lake Minerals Inc. (DLKM-OTCBB), announced today that a consortium led by Tianjin Institute of Geology and Mineral Resources (TIGMR) based in Tianjin, Peoples Republic of China, has made a $6 million equity investment to be used for project financing, as well as exploration and development of Douglas Lake's properties in Tanzania. This will give TIGMR approximately 20% ownership in Douglas Lake.

The funds will come in tranches with the first $1.5 million expected before June 10, 2008, and the balance of $4.5 million shortly thereafter. Use of proceeds will include a final payment to close the Mbwemkuru alluvial gold deposit in Tanzania with the balance being used to bring the project into production and fund ongoing geological work on Douglas Lake's top five exploration targets.

"We are extremely pleased to have gained such an internationally renowned and geologically experienced partner to assist in maximizing the potential of our Tanzanian properties, which now consists of over 10,000 square kilometers," stated Harp Sangha. "Going forward, our new partners with their considerable industry and financial resources, will enable Douglas Lake to aggressively explore its existing and future properties. This partnership will enable us to bring commercially viable deposits into production, generating near-term profits with minimum further dilution to the company's stock. TIGMR also has access to capital, equipment, and skilled manpower that far exceeds the resources of most mining companies worldwide."

"We believe that Tanzania is a sleeping giant. On a global scale, it is endowed with the right geodynamics, and on a provincial scale it has the right history, tectonic and structural settings. With these ingredients we can expect ongoing discoveries! The considerable effort that Douglas Lake's senior management has made in the past three and half years to assemble their large portfolio of properties and knowledgeable staff provides us with excellent access to the country's resources," stated Dr. Zhang Wenqin, Vice Director of TIGMR. "We believe the Mbwemkuru project has huge potential, and with our capital investment, equipment and expertise in place, we will be able to quickly determine the size of the gold reserve. This, coupled with the low cost-of-production, makes the property a natural choice for the launch of TIGMR and Douglas Lake's new partnership to explore and develop mining properties in Tanzania."


TIGMR is a subsidiary of the China Geological Survey, a department of the Chinese Ministry of Land and Resources. Established in the early 1960s, the institute deals directly with the ministry and the Central Government, and assists the government with special geological projects conducted in China and worldwide. Since its founding, TIGMR has achieved numerous earth science accomplishments and has accumulated significant scientific experience through its findings and related basic studies in Precambrian and Quaternary Geology, paleobotany and paleontology. Website

The total monetary commitment in the long run may be as much as $15-$20 million, which would elevate Douglas Lake as a major mining entity in Tanzania, or rather in the Tanzanian gold market.

Currently, gold production in Tanzania is conducted by the international majors, such as AngloGold Ashanta, Barrick, and Newmont.

The Chinese/Douglas Lake/Africa relationship is in the forefront of the flow of international money and productive relationships. Chinese know-how and monetary assets are going now directly to Africa to acquire and exploit mineral resources.

Unfortunately, the United States missed two decades to form partnerships with African mineral-producing companies. Now that we live in the commodity age, and China needs reserves of almost every kind, the Chinese businessmen are looking around and asking the question:

Where are the Strategic Reserves?

The strategic reserves are very much in Africa—diamonds in South African, oil in Angola, and gold in Ghana and Tanzania. A new world order in commodity exploration is being created.

A nation like Tanzania has to develop and sell its mineral reserves.

A nation like China has money and is desperate for mineral reserves.

What the West must understand is that one successful transaction leads to another. A China-sponsored gold exploration program of 100,000 pounds per annum creating $100 million in revenues will provide the Chinese owners with surplus cash, which is likely to be reinvested in another Tanzanian mining project.

Very soon a new world order will emerge where the West not only will play a secondary role but eventually an average customer for the mineral riches of Africa, instead of an owner.

The West is buying oil at $135. It will buy gold at $2,000, uranium at $200, and molybdenum at $60.


Information contained herein is based on data obtained from recognized statistical services, issuers reports or communications or other sources believed to be reliable. However, such information has not been verified by us and we do not make any representation to its accuracy or completeness. Any statement non-factual in nature constitutes only current opinions which are subject to change. BERAL INC. or their officers, directors, analysts or employees may have positions in the securities or commodities referred to herein, and may as principal or agent buy and sell such securities or commodities. An employee, analyst, officer or a director of BERAL INC. may serve as a director for companies mentioned in this report. Neither the information nor any comment expressed shall constitute an offer to sell or a solicitation of an offer to buy any securities or commodities mentioned herein. There may be instances when fundamental, technical and competitive opinions may not be in concert. This firm may from time to time perform investment banking or other services for or which investment banking or other businesses from any company mentioned in this report.



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"A Letter To
President Bush"

Posted September 8, 2005

"Mr. Smith Goes To Hungary"
Posted September 1, 2005
"Orko Gold"
Posted August 18, 2005

 "Near Hit"
Posted August 16, 2005

"An African Queen"
Posted August 11, 2005

"1848 and Beyond"
Posted August 4, 2005



Andrew Racz. 300 East 54 Street, Suite 26C, New York, NY 10022
Phone: (212) 319-6949 Fax: (212) 753-1944. E-mail:

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