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Originally posted by MrGraphite2: ↑

Hi Jaxjax,

Summary below of the video:

The Government has announced the success of the establishment of Twiga Minerals Corporation Limited, a joint venture between the Government of Tanzania and the Barrick Gold Mining Company. Prior to 2015 the government revenue from mining was not more than 115 Billion Shillings whereas in 2020/2021 alone the government has managed to collect 528 Billion Shillings. The Minister of Mines Hon. Doto Biteko made the remarks today, January 25, 2022 at the Msalala District Council in Shinyanga Region while addressing a Barrick company delegation led by the President and CEO of Barrick Global Company, Dr. Mark Bristow. Minister Biteko said that Barrick Company owns 84% of the shares while the Government of Tanzania owns 16% which has led to an increase in government GDP from mining. Barrick was the first company to enter into a joint venture with a state-owned company and later four other companies signed contracts worth $ 763 million of which three mining companies are from Australia and one from the UK. The companies that signed with the government and formed joint ventures are Strandline Resources Ltd and formed Nyati Minerals Sands Ltd which will be digging sand in Fungoni Kigamboni district in Dar es Salaam region and Black Rock Mining Ltd and forming Faru Graphite Joint Venture Company. Corporation located in Ulanga district in Morogoro region for mining mining. Other agreements signed are between the government and Nyanzaga Company to form Sotta Mining Corporation Ltd in Sengerema, Mwanza Region for gold mining and Petra Diamond Ltd and to form Williamson Diamond Ltd for mining. of Mwadui diamonds in Shinyanga region. The President and CEO of Barrick International, Dr. Mark Bristow, said the partnership between the company and the government had increased mineral productivity. He said the mine has provided employment opportunities for locals where 96 percent of the workers are Tanzanians while 41 percent are from the villages surrounding the mine. For his part, Shinyanga Regional Commissioner Hon. Sophia Mjema said that all Regional and District leadership will continue to provide cooperation to the company to increase efficiency and productivity in mineral access. Similarly, Minister Biteko speaking at a public meeting held in Kakola village in Kahama District has shocked the people with various grievances including those relating to land compensation claims, where he stressed that the government is closely monitoring to ensure they get their dues. END

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Perfect. Thanks mate.

just strengthens our claim that sovereign risk has dramtically reduced from past years.

any aus mining company at the stage we are would be 30 to 40% Mc of npv.
We are 10 to 11%.

i can only bring this down to the thought of sovereign risk.

really need a few strong announcements to come our way to get us fast tracked to production and get is to a price we should be at.