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Tanzania's gold potential now at 1,000m ounces

Discussion in 'Jukwaa la Siasa' started by Kubwajinga, Apr 8, 2008.

  1. Kubwajinga

    Kubwajinga JF-Expert Member

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    Apr 8, 2008
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    Tanzania's gold potential now at 1,000m ounces
    Monday, 07 April 2008
    By Daniel Said

    DAR ES SALAAM, TANZANIA – Estimates are putting Tanzania’s gold potential at 1,000 million ounces which are open for exploration activities, the Tanzania Chamber of Minerals and Energy said last week.

    However, despite the stated wealth, Tanzania is currently exploiting only 4% of the potential.

    The chamber has therefore advocated against further taxation of investors arguing that it will reduce the country’s global competitiveness in attracting mining investors.

    Instead, the chamber has advised the government to develop roads, improve railways, ports and provide reliable electricity to support the growing mining sector.

    Last week the chamber said in a statement that while the foreign shareholders had not reaped any dividends from gold mining operations from 1997 when the first mine was opened to 2005, Tanzania has already received a total of $ 255,526,893 in statutory taxes and royalties from large mining operators.

    The chamber revealed that between 1997 and 2005, mining companies which are members of the chamber produced gold worth $ 2.54 billion and $74.7million in royalty.

    “The future holds bright prospects for the country, but not through further taxation because that will reduce Tanzania’s global competitiveness in attracting investments in mining,” said the statement in part.
     
  2. M

    Mwafrika wa Kike JF-Expert Member

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    Apr 9, 2008
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    By the time Kikwete anatoka madarakani, hii dhahabu yote itakuwa imekwisha wakati Kikwete atakuwa anaenjoy maisha kwenye jumba lake la kifahari kwenye Pwani ya Pacific!
     
  3. Kubwajinga

    Kubwajinga JF-Expert Member

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    Apr 10, 2008
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    MwK,
    Nakubaliana kabisa na wewe. Kama tukiendelea na hii timu ya wana-matumbo-tumbo, hakuna kitakachobaki wakiondoka na barabara zetu bado zitaendelea kuwa za vumbi.
     
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