https://www.miningweekly.com
Export|Mining
Export|Mining
export|mining

Tanzania to cancel licenses for undeveloped mineral sites

23rd January 2019

By: Bloomberg

  

Font size: - +

DAR ES SALAAM – 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.

The announcement comes amid a tax dispute between the state and Acacia Mining, in which the government is demanding $190-billion in penalties, after claiming the company had under-declared export revenue since 2000.

The East African nation surpassed its mining-revenue targets for the first half of the current fiscal year by 8% to 167.5-billion shillings ($72.3-million), Magufuli told mining executives in the commercial hub of Dar es Salaam Tuesday. Earnings in the 2017/18 year jumped 55% to 301-billion shillings, he said.

The state intends to hold discussions with mining companies on obstacles restraining the sector, Mining Minister Doto Biteko told the executives. The industry contributed 4.8% of gross domestic product in 2017, compared with 4% in 2015, Magufuli said.

Edited by Bloomberg

Comments

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.252 0.29s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: