Tanzania is a land rich in minerals and is the fourth largest gold miner in Africa. Mining makes up more than 50% of the country's total exports, of which a large part comes from gold. The country has gold reserves of 10 million ounces, generating significant revenue. The new Tanzanian government, established in 2020, supports more mining friendly taxation considerations. January 2022 saw a cabinet reshuffle and the formation of a new Ministry of Investment, Industry, and Trade.