05 Jul

New Tanzania law requires government to have shares in mining firms

Tanzania’s parliament amended mining and tax laws late on Wednesday to make it mandatory for the government to own at least a 16 percent stake in mining projects, the state-run Tanzania Information Services said.

“In any mining operations under a mining license or a special mining license, the government shall have not less than 16 (percent) non-dilutable free-carried interest shares in the capital of a mining company,” read the text of the new law.

Read More: Reuters Africa