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Mtanzania aonya utaifishaji migodi!!!!!!!!!!

Discussion in 'Jukwaa la Siasa' started by Nyambala, Jan 11, 2011.

  1. Nyambala

    Nyambala JF-Expert Member

    #1
    Jan 11, 2011
    Joined: Oct 10, 2007
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    Just a note mtanzania in question siyo yule wetu hapa JF

    Tanzania's Jengo wants mine listings on African exchanges



    JOHANNESBURG (miningweekly.com) – Tanzanian minerals executive Emmanuel Jengo on Tuesday strongly denounced mine nationalisation as an industry destroyer; said that State mining companies had no place in market economies; condemned free-carried government mining venture ownership as "just another tax" – and called on gobal miners in Africa to list on African stock exchanges to facilitate wider public participation in investment opportunities.

    Jengo, who is the Tanzania Chamber of Minerals & Energy executive secretary, drew thunderous applause at the Terrappin's African Mining Congress 2010 in Johannesburg, along with comments of "hallelujah" from the congress' chairperson Tom Blom, and "amens" from an audience that included a significant number of foreign visitors from Asia, Africa and Europe.

    "Once the mines are nationalised, you can forget about the mining industry," Jengo said, in reference to the nationalisation of the mining industry finding its way onto the agenda of an upcoming congress of South Africa's ruling African National Congress party.

    On the efficacy of the creation of State mining companies, he said: "I'm not for State mining companies. I worked in a State mining company myself for a number of years. I know what happens there."

    On the incidence of African governments legislating free-carried interest in mining ventures, he added: "I consider it as just another tax, because the government's not putting in a nickel."

    He recalled the history of Tanzania's own mining industry being privatised, nationalised and then privatised again, and provided statistics that illustrated the crushing blow that nationalisation gave to the East African country's gold production.

    Tanzania's mining industry, he said, had been established through private capital when under the German administration in 1884, and was producing gold at a rate of 3 t a year as Tanganyika under British administration.

    However, soon after gaining independence in 1961, there was a mobilisation to nationalise the mines, which culminated in the nationalisation of the industry in 1967.

    "By 1970, gold production dropped from 3 t a year to 10 kg – that's what nationalisation can do," Jengo said.

    Later, "common sense" prevailed and the government came up in 1998 with a new legislative environment and incentive packages for the mining sector.

    "That's when we began to see mining being revived in Tanzania. As I speak now, in the last decade, Tanzania has been able to attract $2,5-billion in investments in the construction of five gold-mining operations, producing 60 t of gold.

    "In the case of South Africa, I cannot say much. It's a huge economy with many mines in operation, but my take is once the mines are nationalised, you can forget about the industry."

    On South Africa going ahead with a State mining company, he said: "In a free-market economy, why do you want a State mining company? You don't need it. Private capital flows directly to where it's needed.

    It doesn't have to go through a State mining company, which only takes money out of the government that would have been used for other purposes, like building a school or a dispensary."

    Governments, in his view, should desist from making direct investments in mining and focus their spending on much-needed social services.

    On the question of legislating free-carried interest in mining ventures, he said: "I consider it as just another tax, because the government is not putting in a nickel. An investor comes in with all the money, technology and management, builds up the mine, and governments say, ‘Well, because I have minerals in the ground, that should constitute my free-carried interest.'

    "The minerals have been there since Adam and Eve. Here comes an investor with the money, technology and management, and then they demand a free-carried interest. A 15% commercial interest yes, but not a free-carry," he reiterated.

    On wider public participation in mining, Jengo said that governments needed to work towards creating the enabling legislations that would allow international mining companies to list on the stock exchanges of the countries where they were mining, in order to "quench that desire to own a part of the companies that are working in Africa".

    Stock exchange involvement would allow Africa to witness the participation of African people in international financing through their respective stock exchanges.

    "Both governments and private companies must spearhead the promotion of harmonious coexistence among the stakeholders. We are likely to see a liberalisation of the capital account in most African countries to allow shares to be purchased by local people," he added.

    Governments were constantly seeking visible signs of mining-induced revenue streams. While the glib answer was that mining revenue was obtained from taxation – which was why governments constantly sought to raise mining-related taxes – Jengo contended that the revenue spin-off from mining lay in the industry's linkages and in the transport and energy infrastructure that resulted from mining activity.
    "There's tons of money from infrastructure and linkages, not taxes," he said

    My Take:
    Naona kama Jengo ana hoja lakini anakosa some facts. Ushauri wangu kwa jengo kidogo tu afanye utafiti biashara ya madini inaendeshwaje katika nchi kama Australia na pia mahusiano na hiyo biashara na state govts and federal govt. He may learn something. Let's discuss the matter anyways.
     
  2. J

    Jasusi JF-Expert Member

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    Jan 11, 2011
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    Russia is one of the leading diamond producers. I am sure the Russian government has a major stake in mining. Is Mr Jengo telling us that Russia is wrong in having a government stake in its mining industry? South Africa is creating a state mining company. I am sure they are going to model it on the Russian model. And maybe he needs to answer the question, does the mineral underground belong to investors or do they belong to the country where they are found?
     
  3. Abdulhalim

    Abdulhalim JF-Expert Member

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    Jan 11, 2011
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    Kaka Nyambala,

    My understanding kwene sekta ni very limited ama lakini naona HANA hoja.

    Sielewi kwanini we worry much kwamba we don't extract mineral fast enough..hili ndilo wanalolishadadia. Hivi kusema kwamba kipindi cha ukoloni ati tulikuwa *sijui tangia lini mafanikio ya mkoloni ni yetu and QUI BONO?* tunauza tani 3 na baada ya kuwa chini ya serikali tukawa tunazalisha kilo 10.?? I see no problem kwa sababu madini hayaozi. We should be more worried kwa kutokuepo kwa parallel trend kati ya kukua kwa huduma za kijamii na hizo tonnes/year wanazochukua. We all know hiyo trend haipo that means we have a problem.

    Sielewi kwanini serikali haitaki kuekeza pesa na kupata pesa. Kwanini? Kwene thread ile nyingine nimeona umeleta habari za India wanataka ku-secure another coal mine huko Msumbiji. Na ktk ku-google nimegundua ile kampuni ni ya serikali na it is the world's largest. Sijui performance-wise wanafanyaje lakini it is partly their national pride too. Kusema kwamba state mining will not work nadhani si kauli ya kitaalamu na imekaa kwa mweleko wa ki-corporate zaidi ili kufisha juhudi za serikali za kiafrika kushiriki kikamilifu ktk mining sector.
     
  4. K

    Kituko JF-Expert Member

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    Jan 11, 2011
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    Thinker Abdulhalim, umeongea mambo mengi na yenye mantiki kubwa
    Tatizo la tanzania ni Viongozi kukosa nidhamu na kutofata miiko ya uongozi, Kampuni nyingi za ujenzi za kutoka china zina mkono wa serikali na zina perform vizuri tu,
    Gold iko kwenye demand huwezi kunishawishi kuwa wanunuzi hawatanunua eti kwa sababu hiyo gold inazalishwa na serikali
     
  5. Nyambala

    Nyambala JF-Expert Member

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    Jan 11, 2011
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    Kusema ule ukweli there is nothing wrong kuwa na state mining company au serikali kuwa na stakes kwenye mining company. With me my worry ni jinsi tu serikali yetu isivyoweza kuwajibika hata kwenye mambo madogo madogo kama Dowans. Kuna vinchi vidogo kama Namibia, PNG, Botswana vina shares nyingi tu kwenye haya makampuni ya madini ya kibepari na hatujasikia wawekezajji kuacha kuendelea kuwekeza eti kwa kuwa kuna state stakes au kodi fulani imekuwa introduced. Huyo jengo nadhani aliamua kufurahisha wawekezaji kama bosi wake JK na aliyepita Mkapa.

    Kubwa na la msingi ni kuhakikisha kwamba kama tuna state mining company mfano ile STAMICO tuondoe kabisa ukiritimba usio na msingi kama ule uliopo mashirika ya umma (Tanesco, TTCL etc.). Pia tuwe tayari kuipa uhuru wa kuoperate in the way a mining company operate. Kma inahitajika expats maeneo flani basi waletwe, mitambo ya kisasa inunuliwe. It is possible think of Debswana au Namdeb. Ila tukiingiza siasa kama zile za BOT it will just neva happen.

    Halafu hili la kusema eti jamaa wajiandikishe kwenye masoko yetu ya hisa ili wananchi washiriki nadhani si hoja, kama mtu una nia ya kununua hisa kwenye makampuni haya you can still do it tena online. Ishu hapa ni mitaji (Ntaielezea hii hapa chini). Pia ushirikishwaji wananchi kwenye shughuli zinazojumuisha mining industry mfano kusupply maji, umeme, ujenzi wa barabara za mgodini, kufanya supplies za spare parts (maana hata huko South Africa zinakoagizwa hawatengenezi wao), contract works etc.

    Mfano wa hisa

    "Kampuni ya African Barrick Gold (Newly formed out of Barrick Gold Corp.) ina thamani ya dola za Marekani bilioni 4 ambazo ni sawa na robo ya uchumi wa Tanzania kwani pato la taifa la hadi kufikia mwaka jana lilikuwa dola16 bilioni za Marekani.


    Kamati ya Bomani waliyopitia na kupendekeza maboresho katika sekta ya madini nchini wamependekeza Serikali imiliki (i.e. kununua) asilimia 10 ya migodi zote Tanzania na asilimia 15 ziuzwe kwenye soko la hisa "DSE" ili kunufaisha mtanzania na makampuni ya kitanzania. Very nice in words but is it practical.


    Kwa kutumia mfano mzuri wa Barrick Tanzania operations hii itakuwa:
    • serikali itabidi itoe USD 400 million ikiwa asilimia 2.5 ya pato la taifa.
    • wananchi na mashirika mbali mbali watabidi watoe USD 600 million ikiwa asilimia 3.75 ya pato la taifa. (Kumbukeni IPO ya NMB ambayo ilikuwa kubwa kuliko zote kwenye historia ya Tanzania ilikuwa USD 50 million na ilipatia sekta ya fedha Tanzania wakati mugumu kibiashara baada ya hapo kwasababu ya kupungua kwa mzunguko wa hela kati ya mabenki ikitokana na over subscription ya IPO. Kwa kesi ya NMB IPO ilikuwa oversubscribed by 100%. Kwahiyo kama USD 100million ziliondolewa kwenye uchumi kwa muda ya miezi miwili hadi mitatu)
    Kujumlisha USD 1 billion zitahitajika kununua aislimia 25 za operation za Barrick na itakuwa ailimia 6.25 pato la taifa. Barrick wana vitu viwili wanaweza fanya na hizo hela moja ikiwa kurudisha hizo hela Canada na nyingine ni kure-invest hizo hela kwenye assets zao Tanzania. Kumbukeni bado kuna swala ya kwamba migodi ya barrick hayaja weza pata faida mpaka sasa kwa sababu ya kuhudumia madeni na kuendeleza intensive capital investments Tanzania ambayo inaleta maana kibiashara. (Mahesabu ya haraka kusimamisha mgodi moja kubwa wa dhahabu inahitaji capital investments ya USD 500 million)

    Two Qs to ponder:
    1. Je uchumi wa Tazania inaweza kustahimili kununua asilimia 25% kwenye kila mgodi Tanzania? "Sustainability qn"

    2. Tufanye nini mpaka tuweze kumiliki hizo asilimia 25 kwenye makampuni ya migodi? "way forward"
     
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