By Special Correspondent, Pretoria,20-02-2019:
AFRICAN countries have been advised to emulate Tanzania’s President John Pombe Magufuli in efficient management of their country’s natural resources for the interest of the people.
“I am African. We are all Africans. President Magufuli is absolutely doing the right thing.
"He ensures a wealth of natural resources is identified and benefits the Tanzanians, we are here because we are in total agreement with Honourable President,” says Dr Willem Jacobs, Barrick Gold’s Chief Operating Officer for Eastern and Central Africa.
Dr. Jacobs, a South African mining industrialist, led the Canadian miner Barrick’s team in a meeting with President Magufuli to work out a concrete arrangement to settle the agreed payment of $300 million to resolve the tax claims.
He told the media on his way out that Africans were supposed to do likewise.
“We will ensure we work with the Government, together with communities to protect these resources, remember these resources belong to the people,” he committed.
Being the investor in the mining industry, Dr. Jacobs reaffirmed of his obligation, as turning the minerals into tax and employment to Tanzanians and also enabling his mining firm to maximize shareholder’s value through legally earned profit margins.
The delegation paid a courtesy call to President Magufuli to reaffirm their commitment to the roadmap agreed to resolving unethical practices identified in the payment of taxes to the Government of the United Republic of Tanzania.
In October 2017, Barrick God, which holds a 63.9 percent stake in Acacia, had, apart from the payment of tax claims, agreed to set up a local operating firm and share firm’s 50-50 economic benefits with the government.
“Everything is all set, we are now ready to move on," Tanzania's Legal Affairs minister Prof. Palamagamba Kabudi reveals. He rolled out the milestones for realization of the objective which is fixed for March 2019.
London-listed Acacia has been engaged in a longstanding row with Tanzania over tax evasion, breach of environmental regulations, among other issues.
This latest move is not only victory to Tanzania but also to Africa but it is as well a big blow to the Tanzanian opposition Parliamentary Chief Whip, Tundu Lissu, who, as the world is tired by his “childish” and paralytic stories, is framed by dubious sources making him claim the roadmap with Barrick Gold was a fairy tale.
His frequent application of negative stories, misinforming the world about Tanzania, has labelled him the stupidest opposition politician Tanzania has ever had.
Tanzania produces around 50t of gold per year, making it the fourth (4th) largest gold producer in Africa after South Africa, Ghana and Mali.
_The Author is a Tanzanian minerals expert, currently living in Pretoria, South Africa._
AFRICAN countries have been advised to emulate Tanzania’s President John Pombe Magufuli in efficient management of their country’s natural resources for the interest of the people.
“I am African. We are all Africans. President Magufuli is absolutely doing the right thing.
"He ensures a wealth of natural resources is identified and benefits the Tanzanians, we are here because we are in total agreement with Honourable President,” says Dr Willem Jacobs, Barrick Gold’s Chief Operating Officer for Eastern and Central Africa.
Dr. Jacobs, a South African mining industrialist, led the Canadian miner Barrick’s team in a meeting with President Magufuli to work out a concrete arrangement to settle the agreed payment of $300 million to resolve the tax claims.
He told the media on his way out that Africans were supposed to do likewise.
“We will ensure we work with the Government, together with communities to protect these resources, remember these resources belong to the people,” he committed.
Being the investor in the mining industry, Dr. Jacobs reaffirmed of his obligation, as turning the minerals into tax and employment to Tanzanians and also enabling his mining firm to maximize shareholder’s value through legally earned profit margins.
The delegation paid a courtesy call to President Magufuli to reaffirm their commitment to the roadmap agreed to resolving unethical practices identified in the payment of taxes to the Government of the United Republic of Tanzania.
In October 2017, Barrick God, which holds a 63.9 percent stake in Acacia, had, apart from the payment of tax claims, agreed to set up a local operating firm and share firm’s 50-50 economic benefits with the government.
“Everything is all set, we are now ready to move on," Tanzania's Legal Affairs minister Prof. Palamagamba Kabudi reveals. He rolled out the milestones for realization of the objective which is fixed for March 2019.
London-listed Acacia has been engaged in a longstanding row with Tanzania over tax evasion, breach of environmental regulations, among other issues.
This latest move is not only victory to Tanzania but also to Africa but it is as well a big blow to the Tanzanian opposition Parliamentary Chief Whip, Tundu Lissu, who, as the world is tired by his “childish” and paralytic stories, is framed by dubious sources making him claim the roadmap with Barrick Gold was a fairy tale.
His frequent application of negative stories, misinforming the world about Tanzania, has labelled him the stupidest opposition politician Tanzania has ever had.
Tanzania produces around 50t of gold per year, making it the fourth (4th) largest gold producer in Africa after South Africa, Ghana and Mali.
_The Author is a Tanzanian minerals expert, currently living in Pretoria, South Africa._
