Tanzanian mining
"A ripe melon falls by itself" - Zimbabwe proverb
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Tanzanian MiningTanzania to review mining contracts
found at metalmarkets.org.uk by Gill Montia Thursday, November 15, 2007 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. read also :
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