It wouldn't surprise me, Tanzanian mining legislation is unworkable in its current state.
They(Tanzanian Government) want local content and finance to be used and then when it comes time for a local bank to honour the deal they go missing. Why? Because the banks in Tanzania are obviously incompetent, they sign a deal and then re-nege, they have decided their country is uninvestable. This is not a country ready for business and foreign investment unfortunately, the Tanzanian CRDB bank are an absolute disgrace imo, they will cost the country dearly for many years to come.
PEK are also another company in Limbo with the country. Good luck to them, they need local finance/content but the Tanzanian Banks are not even up to the standards of a small rural bank in AUS.
Good luck with your Tanzanian investment, I would only recommend it to my worst enemy. Unfortunately I have two stocks.
It wouldn't surprise me, Tanzanian mining legislation is...
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