How mining firms are milking Tanzania dry

The ancient Greeks are famed for many things. From their system of government, their invaluable contributions to the development of technology to their sense of drama and tragedy.

Mwanza United Gold Mine Limited has signed a memorandum of understanding (MoU) with an Omani firm for the two companies to jointly prospect for minerals.

>While African mining firms continue to enjoy the fruits of the commodities super-cycle, weaknesses in South Africa’s crisis-hit sector is attracting the attention of bargain hunting investors.

>The government has decided to take over four private mining firms and place them under the charge of the State Mining Corporation Stamico).

Gold mining companies will now pay four per cent of their profit to the government as service levy compared to the 3 per cent they were previously paying following an amendment of the Mining Development Agreements (MDAs) it signed with mining firms in 1999.

More than 400 mining companies dodged to pay $10.2 million (Sh19 billion) prospecting licence fees for two years.

eTurboNews
How will mining affect tourism? Tanzania gives go ahead to uranium mining in ...
eTurboNews
TANZANIA (eTN) - The Tanzanian government has agreed to allow uranium mining inside the famous Selous Game Reserve after the United Nations World Heritage Committee approved an application by the Tanzanian government to alter the boundaries of ...
Tanzania, UNDP Sign Agreement to Fight PoachingAllAfrica.com

all 3

Tanzanian Mining companies migrating to the Mining Act 2010 and a Lusaka revolution

Judge Mark Bomani (Bomani Commission)

This weekend Tanzanians were informed (viaThe East African- Tanzania seals new tax deal with mining firms) of the decision reached by ministry of energy and minerals and one of the giant mining company in the country, Geita Gold Mine, that new royalty rates will be applicable. The agreement includes scrapping of the 15% provision on the unredeemed capital expenditure...

This is the sixth part of an article on politics of reforming the mineral sector in Tanzania. In the politics of reforming the mineral sector this week we explore and trace the new challenges that emerged amidst successes and the efforts the Forth Phase Government took to overcome and continue developing the mining sector in order to become the engine for economic growth of the country.