Comments on: Tanzania-focused miners face fresh challenges as country passes new laws

By: Prophet Hendrickus

Prophet Hendrickus — Fri, 07 Jul 2017 18:26:02 +0000

Gold has been the “fools folly” ever since man discovered its glitter! Looks like the “fools folly” now is coming out into the open in beautiful #Tanzania! May God have mercy on the souls of all the “fools dancing to gold’s folly” And may God bless the people of Tanzania, in enjoying God’s bounties every day! hendrickus of Ourplace

By: gustavo rodriguez

gustavo rodriguez — Wed, 05 Jul 2017 20:18:20 +0000

Barrick did it again…. not just Africa, They are applying similar bad industry/policy practices elsewhere in the world (Argentina for example).

“ABX, which owns 63% of Acacia, is trying to convince Tanzanian Pres. Magufuli to lift an export ban on gold concentrate and reach a settlement over claims that Acacia has been under-reporting the amount of the concentrate it exports by a factor 10x – essentially amounting to a multi-million dollar fraud”

By: Novatus Mushi

Novatus Mushi — Wed, 05 Jul 2017 17:35:05 +0000

In reply to Hennie. We are much focused on investors that is why we have this stringent laws against them. What we need is technology and skilled manpower so as to extract our own resources.

By: RDC1378

RDC1378 — Wed, 05 Jul 2017 16:14:27 +0000

Well done Tanzania – corruption both official and commercial weeded out. WIth Barrick retaining 64% of the company in question there are good prospects for recovering lost taxes after some kind of multi year court battle. Looking for more of the same from neighboring countries and administrations.

By: Nasser Nassir

Nasser Nassir — Wed, 05 Jul 2017 16:04:44 +0000

In reply to Vusi. I agree with all that 100% I agree with all that 100%

By: Hennie

Hennie — Wed, 05 Jul 2017 09:57:35 +0000

The African continent needs cash investments from international Companies to develop their Mining infrastructure in order to create wealth not only for the investing Companies but also for job creation and growth for the people of that country. Laws such as that in Zimbabwe scares off potential investors and disadvantage the workers of that country.
What is important is that a time line should be set for the training workers to take responsible control over the Mines, thus reducing he need for hiring experts from other countries like South Africa and Australia at higher than normal wages to manage the mining

By: Aubu

Aubu — Wed, 05 Jul 2017 09:52:53 +0000

Awesome observation and a remarkable stance.

By: Vusi

Vusi — Wed, 05 Jul 2017 07:40:59 +0000

It serves them, they have been fleecing the country’s resources for decades without any consequences. It’s long overdue for these conglomerates to face the music..