Yes Likatiger interesting you should say that about Africa as this came out as now Tanzania is the next African state to review all mining contracts:
Tanzania to review mining contracts: report
--------------------------------------------------------------------------------
Friday, November 16, 2007
Rebecca Lawson
TANZANIA has followed in the Democratic Republic of Congo's footsteps, setting up a committee to review all mining contracts held by foreign investors.
Mineweb.com reported that Tanzanian President Jakaya Kikwete has named an 11-member committee to go through all mining contracts and other documents involving large-scale mining, taxes and investor rights, over a three-month period.
The newswire said the formation of the committee comes on the back of growing resentment by Tanzanians and civil society organisations, who both claim that most mining contracts were tailor-made to suit investors and not the locals, who own the mineral resource.
The mine contract reviews in Tanzania might not hold much weight, the newswire said, with the country's Government failing to keep up its quest to raise mining royalties which it had flagged at the Indaba conference earlier this year.
Additionally a separate committee has been formed to negotiate with miners on how best the Government, the miners and the people can benefit from the country's mineral resources.
Perth-based Resolute Mining - which owns the Golden Pride gold mine in Tanzania - along with Barrick Gold and AngloGold Ashanti, among others, have reportedly held talks with that committee.
Other Australian publicly-listed companies with a presence in the country include Gulf Resources, Albidon, Western Metals and Globe Uranium, while Xstrata and Barrick Gold jointly hold the Kabanga nickel joint venture.
Tanzania's mining contract reviews comes on the back of mining reviews from its neighbour, the DRC, where recommendations were leaked earlier this month that 61 contracts be terminated or renegotiated.
Contracts held by Anvil Mining and Canadian company First Quantum were reportedly among the first to be recommended for termination.
However the DRC's Minister of Mines, and most recently the governor of the country's mineral-rich Katanga province, have moved to reassure mining companies that they are welcome in the DRC despite the leaked reports.
- Forums
- ASX - By Stock
- SDL
- retain a few with a very long focus imo
retain a few with a very long focus imo, page-20
-
-
- There are more pages in this discussion • 10 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SDL (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
1CG
ONE CLICK GROUP LIMITED
Mark Waller, MD
Mark Waller
MD
Previous Video
Next Video
SPONSORED BY The Market Online