“After carefully assessing the financial capability and history of those companies, we have issued licences for the construction of two gold refineries and a smelter,” said Biteko. Some 37 companies had expressed an interest, he said.
“We will also soon award special mining licences to two companies to build large-scale mines whose individual investment is above $100m,” he added.
The introduction of Chinese investors comes in sharp contrast to the two year dispute with long-standing Tanzanian gold producer, Acacia Resources. It is the subject of a takeover by its largest shareholder, Barrick Gold, after the Tanzanian government refused to ever deal with the company again.
“Gold worth a total of 136.7bn Tanzanian shillings, equal to $60m, has been traded through the new mineral centres since March and the government has collected 7.7bn shillings royalty and clearance fees,” Biteko said.
Small-scale miners produce around 20 tonnes of gold a year, but 90% is illegally exported, a parliamentary report said.
CHINESE companies have been awarded licences for construction of a mineral smelter and two gold refineries in Tanzania worth more than $100m, said Reuters citing the country’s minerals minister, Doto Biteko. “After carefully assessing the financial capability and history of those companies, we...
Project Name:CBK Annexe, Nairobi. Client:Central Bank of Kenya. Contract Period:24 Months. Timelines:Documentation Complete. Project Description: Located along Haile Selassie Road in the Central Business District, this project comprises 6 levels of basement and above ground car parking...
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