https://www.miningweekly.com

Tanzania targets big increase in mineral revenue

28th May 2019

By: Bloomberg

  

Font size: - +

DAR ES SALAAM – Tanzania intends to collect 470.9-billion shillings ($205.5-million) from minerals in 2019/20, compared with a projected income of 310.6-billion shillings in the fiscal year ending June 30.

The East African nation plans to boost production and exports, open new mineral trading centers, curb smuggling and ensure closer supervision of the industry, Mining Minister Doto Biteko told lawmakers Monday. By the end of March, Tanzania had collected 244.3-billion shillings from the industry, he said.

The state expects to open seven new centers for trading minerals in the next financial year in addition to the 21 already in operation, Biteko said. The Mining Commission has put on notice for revocation of 1 131 licences after investors failed to comply with the country’s regulations, he said.

By the end of March, a total of 13 177 applications for mining licences had been submitted and 4 831 permits had been granted. About nine companies expressed interest in constructing smelters and refineries in the country, the Minister told lawmakers.

Edited by Bloomberg

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

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