Mining Minimum Shareholding and Public Offer Regulations 2016

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

Mining sector to tighten controls

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

Importance of Tax Advice When Investing in Emerging Markets

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