Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Saturday 04th of July 2009
Thursday, November 15, 2007

Tanzania to review mining contracts

Story link: Tanzania to review mining contracts
by Gill Montia
Tanzania to review mining contracts

Tanzania, Africa’s third-largest gold producer, is reviewing all mining contracts with foreign investors.

The move follows similar action taken this year by the Democratic Republic of Congo.

The government of Tanzania has appointed an 11-member committee to undertake the work. Its members include politicians, mining sector experts and government officials.

The role of foreign investors in the Tanzanian mining industry has been a long-term source of resentment, with claims that most mining contracts provide maximum benefit to investors at the expense of local people.

The review will be completed in three months and will consider all mining contracts and other documents involving large scale mining.

It will focus on taxation in the mining sector and the rights of investors as well as those of the government.

The committee will also hold discussions with the Tanzania Chamber of Minerals.

The role of the Chamber is to represent, protect and foster the common interests of private sector operators and to promote the mining industry in the country.

It plays an important role as a mediator between the mining investment community and key stakeholders, in particular the government and the public.

It is difficult to judge how effective the review will be given that the Tanzanian government has not yet adjusted mining royalties, despite indicating that it would do so at the beginning of this year.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related posts to: Tanzania to review mining contracts

DRC completes review of mining contracts ...

DRC ready to renegotiate mining contracts ...

BHP Billiton and AngloGold remain silent on DRC contract review ...

Moto Goldmines waits on DRC Government review ...

Xstrata Nickel proceeds with Tanzanian project ...

Latest Metals News:

Latest News  Car sales, employment numbers send platinum lower

Latest News  Copper prices hurt by US, Eurozone jobs data

Latest News  Copper up on expanded manufacturing in China

Latest News  USD gains hurt metals prices

Latest News  Copper prices gain on falling stockpiles

Latest News  Xstrata confirms Anglo American merger plans

Latest News  Copper prices fall on less demand as investment

Latest News  Gold gains on economic, political issues

Latest News  Platinum prices higher on strike worries

Latest News  Rio proposes $15.2bn rights issue


Previous: « Copper prices up on Chile earthquake
Next: Gold drops over $27 per ounce »

Visited 1208 times, 2 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):