In Summary While the current government has rightly highlighted industrialisation as its priority, one should not ignore the potential role that mining can play. Indeed, a large chunk of the foreign exchange income and economic growth over the last decade can be directly attributed to mining. A lot of the public debate on mining has … Read more
Mining (Minimum Shareholding and Public Offering) Regulations 2016 were published 7 October 2016. In brief, Special Mining License holders shall: issue shares to the public and list on the Dar Stock Exchange within 1 year of the SML; and have a minimum 30% local shareholding of issued paid up shares, but Minister may grant a waiver if … Read more
Tanzania plans to further tighten controls on its mining sector to ensure that the country maximises the benefits from its wealth of natural resources. “Tanzania has a lot of minerals, but there have been a lot of funny deals … we have to look carefully at our laws so that we move forward as a … Read more
Read here a view on the Court of Appeal decision where the Tanzanian Court of Appeal has upheld the April 2016 decision of the Tanzanian Tax Revenue Appeals Tribunal that a UK-listed subsidiary (Acacia Mining PLC (Acacia)) of Canadian gold mining parent (Barrick Gold Corporation) entered into “a sophisticated scheme of tax evasion,” designed to … Read more