Tanzania has ordered all mineral-producing regions in the East African nation to set up government-controlled trading centres by the end of June, accelerating efforts to curb illegal exports of gold and other precious minerals.
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Tanzania intends to cancel permits for mineral sites belonging to large-scale miners that remain undeveloped and will allocate the licences to smallholders, President John Magufuli said, quoted by Bloomberg.
Read MoreTanzanian President John Magufuli on Wednesday appointed a chairperson and commissioners for the country’s new mining commission, paving the way for the issuance of new mining licences.
Read MoreTanzanian President John Magufuli split the energy and minerals ministry in two and appointed heads for the new ministries on Saturday, five months after sacking the previous minister.
Read MoreToronto-based Tanzanian Royalty Exploration Corporation (CN:TNX) has praised the country’s president John Magufuli, saying his demands on the resources sector were “clearly a call for fair and equal treatment, not nationalisation”.
Read MoreAcacia Mining (LON:ACA), Tanzania’s No.1 gold producer, announced Monday that it will reduce operational activity at its Bulyanhulu Gold Mine. “The decision was driven by unsustainable cash outflows at the mine due to the concentrate ban and the operating environment,” officials said in a statement.
Read MoreIt has also frozen the renewal of expired permits. Tanzanian President John Magufuli has ordered the suspension of new mining licences until further notice, further complicating an already bitter dispute between the government and miners operating in the country.
Read MoreTanzania’s parliament passed two laws on Monday allowing the government to force mining and energy companies to renegotiate their contracts, despite pleas from the mining association for more time.
Read MoreBarrick Gold (CN:ABX) chairman John Thornton met with Tanzanian president John Magufuli on Wednesday to discuss the issues surrounding Acacia Mining (LN:ACA) however the outcome of the meeting is unclear, the Mining Journal reports.
Read MoreTanzania’s president fired the mining minister and the chief of the State-run mineral audit agency on Wednesday, after receiving a report into whether mining companies were under-declaring the value of their exports. President John Magufuli’s decision, announced in a speech, signals an escalation of tensions between the government and the industry, which has denied engaging in tax evasion. Mining accounts for about 4% of Tanzania’s gross domestic product.(source: Miningweekly)
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