---

There is no specific study conducted on the mathematical modeling of the cash-cost and country-benefit fit on the mine and country variations of gold mining worldwide to enable justification of country regimes as well as the selection of investment targets. The main aim of this study was therefore to develop mathematical models of cash-cost and country-benefit fit on the mine and country variations of gold mining worldwide to enable justification of country regimes as well as selection of investment targets. Multiple linear regression analysis using SPSS was used to generate the two models, cash-cost and country-benefit using a sample of 160 gold mines selected from the top 19 gold rich countries covering a period of 7 years from 2002 to 2008. Observational research was the main approach used to collect data of all variables including cash-cost and country-benefitcas well as mine and country variations.

---

is a lecturer in the Department of Chemical and Mining Engineering, College of Engineering and Technology of the University of Dar es Salaam. He completed his mining engineering degree course at the University of Zambia, masters degree at the Australian National University and PhD at the University of Dar es Salaam.

---