Friday, September 15, 2017 7:08:47 PM
Tanzania's president signs new mining bills into law
http://www.reuters.com/article/us-tanzania-mining-idUSKBN19V23P
excerpt:
DAR ES SALAAM (Reuters) - Tanzanian President John Magufuli said on Monday he has signed into law new mining bills which require the government to own at least a 16 percent stake in mining projects.
Acacia Mining hit with USD190bn tax bill from Tanzania authorities
https://www.digitallook.com/news/news-and-announcements/acacia-mining-hit-with-usd190bn-tax-bill-from-tanzanian-government--2784235.html
excerpt:
The Tanzania Revenue Authority sent a demand for $154bn and $36bn to Bulyanhulu Gold Mine Limited and Pangea Minerals Limited, the holding companies for the two mines, in reference to alleged under-declared export revenues.
The TRA's assessments claim a total of close to $40bn of alleged unpaid taxes and roughly $150bn of penalties and interest owed.
Analysts noted that the $40bn tax bill is more than twice what all top five global gold miners combined have paid in taxes since 2000.
Acacia, which said it disputed these assessments, is considering all of its options and rights and will provide a further update in due course.
Tanzania Seizes $15M Worth Of British Diamonds
http://www.kitco.com/news/2017-09-12/Tanzania-Seizes-15M-Worth-Of-British-Diamonds-Plans-To-Nationalize.html
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