Africa Mining: “Acacia Mining rejects $190bn Tanzanian tax bill” – BBC

Acacia in Tanzania

Keeping the lights on, for now: Operations at Bulyanhulu could be suspended as the export ban in Tanzania bites

Gold miner Acacia has been hit with a demand for $190bn in unpaid taxes to Tanzanian authorities in a row it has called “inaccurate and unexplainable”. The demand follows a finding by government-appointed committees that the firm was operating illegally and had understated its gold exports. Continue reading

Africa Oil & Gas: Wentworth Resources provides update on its Mnazi Bay asset in Tanzania

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Image courtesy of Wentworth Resources

Wentworth Resources reports that, further to the Operational Update in June 2017 including an update on the Company’s Mnazi Bay asset in Tanzania, it is pleased to report that further payments have been received from Tanzania Petroleum Development Corporation (‘TPDC’) and Tanzania Electric Supply Company Limited (‘TANESCO’) totalling $1.2 million net to Wentworth, bringing the total cash received for invoiced gas sales to $7.9 million in 2017. Continue reading

Africa Mining: Under new mining law, Acacia agrees to pay higher taxes to Tanzania

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Acacia Mining is Tanzania’s biggest gold producer and operates three major mines in the country — Bulyanhulu, Buzwagi and North Mara (pictured). (Image courtesy of Acacia Mining)

Acacia Mining (LON:ACA), Tanzania’s No.1 gold producer majority owned by Barrick, has agreed to pay higher mining taxes in the country even though it’s still disputing in an international court some of the changes to the laws governing its three gold mines.

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Africa Mining: AngloGold taking Tanzania to UN court over country’s new mining law

Geita open pitSouth African AngloGold Ashanti (JSE:ANG), has taken a page from Acacia Mining’s (LON:ACA) book by announcing Thursday it had begun arbitration proceedings against Tanzania over a new law that allows authorities renegotiate contracts with mining firms. Continue reading

Africa Mining: Graphite Companies Respond to Tanzania’s New Mining Law

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Graphite samples

Tanzanian President John Magufuli signed new mining bills into law on Monday (July 10) that are designed to give the government more control over mining projects in the country. Continue reading

Africa Mining: Tanzania suspends granting of new mining licences

President John Magufuli

Tanzania President John Magufuli

It has also frozen the renewal of expired permits.

Tanzanian President John Magufuli has ordered the suspension of new mining licences until further notice, further complicating an already bitter dispute between the government and miners operating in the country. Continue reading

Africa Extractive Industry: Tanzania passes laws on renegotiation of mining and gas contracts

President John Magufuli

Tanzania President John Magufuli

Tanzania’s parliament passed two laws on Monday allowing the government to force mining and energy companies to renegotiate their contracts, despite pleas from the mining association for more time. Continue reading

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