Kina barrick wapinga sheria mpya ya madini! | JamiiForums | The Home of Great Thinkers

Dismiss Notice
You are browsing this site as a guest. It takes 2 minutes to CREATE AN ACCOUNT and less than 1 minute to LOGIN

Kina barrick wapinga sheria mpya ya madini!

Discussion in 'Jukwaa la Siasa' started by Fareed, Apr 29, 2010.

  1. F

    Fareed JF-Expert Member

    Apr 29, 2010
    Joined: Apr 13, 2010
    Messages: 328
    Likes Received: 12
    Trophy Points: 0
    Investors reject Tanzania's "distorted" mining law

    Reuters, Wednesday April 28 2010

    * Mining companies slam new mining law

    * Minister says companies acting like spoilt child

    By Fumbuka Ng'wanakilala

    DAR ES SALAAM, April 28 (Reuters) - Mining companies on Wednesday rejected a new law in Tanzania that raises royalties on minerals and prohibits foreign companies from gemstone mining, saying it would further erode investor confidence.

    In a joint statement issued through the Tanzania Chamber of Minerals and Energy, investors described the legislation as "distorted," saying it would curtail future mining projects in east Africa's second biggest economy.

    "(The bill) ... will only serve to hinder further growth of the mining sector as existing investors resort to curtailing existing and expansion projects and is bound to scare potential investors who will look elsewhere to invest," said the chamber.

    The Tanzania Chamber of Minerals and Energy represents the interests of international and local investors in the sector.

    Mining companies said they hoped to convince the government to amend the new law before it receives presidential assent, as it would have "serious repercussions" on the industry.

    Tanzania is Africa's third largest gold producer after South Africa and Ghana, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year.

    The Mining Act 2010 passed by parliament on April 23 increases the royalties paid on minerals such as gold to 4 percent from 3 percent and requires mining companies to list on the Dar es Salaam Stock Exchange.

    It also says the Tanzanian government will own a stake in future mining projects and the country will no longer issue gemstone mining licences to foreign firms.

    "The Bill fails to appreciate that Tanzania's desire to become the preferred destination for mineral exploration and investments demands that it becomes significantly competitive vis-a-vis other countries in attracting FDI into the mining and all other sectors," the chamber said.


    Tanzanian Deputy Minister for Energy and Minerals, Adam Kighoma Ali Malima, said the new legislation was aimed at ensuring Tanzanians benefited from the mining sector.

    "This law was not enacted simply with the aim of pleasing investors ... it was passed by parliament last week with the goal of safeguarding the interests of Tanzanians in the country's mining activities," he told Reuters by phone.

    He said the chamber had been involved in the dialogue about the new law for more than a year before it was passed.

    "I consider statements by the chamber of minerals that the new mining law is distorted are outright irresponsible. The problem is you can't have everything, they are almost behaving like a spoilt child," he said.

    African Barrick Gold has four gold mines in Tanzania while Australia's third largest gold miner, Resolute Mining and South Africa's Anglogold Ashanti also have gold operations there.

    British mining company African Eagle is raising funds for its nickel project in Tanzania.

    The chamber aso said the law did not nail down fiscal and regulatory frameworks for the sector, thus "further eroding investor confidence in making long-term investment decisions."

    They said that while the law was designed to clear up the imbalances and uncertainties of the past, it had just created "more imbalances, uncertainty, insecurity and instability to both existing and prospecting investors."

    Gemstones identified by the new law include diamonds, tanzanite, emerald, ruby, sapphire, turquoise and topaz. The chamber said Tanzanians already dominated the sub-sector and the law would just deny it meaningful investment and modernisation.

    Government officials said agreements with AIM-listed miner Petra Diamonds, which owns a 75 percent stake in Tanzania's Williamson diamond mine, and gemstone producer Tanzanite One, will not be affected by the new rules. (Editing by David Clarke)
  2. P

    PELE JF-Expert Member

    Apr 29, 2010
    Joined: Dec 23, 2009
    Messages: 229
    Likes Received: 4
    Trophy Points: 0
    Hapa Serikali isimame kidete dhidi ya hawa wezi wa rasilimali zetu kama hawaitaki sheria mpya basi wafunge virago vyao na kutuachia dhahabu yetu. Serikali ikiamua kusimama imara na kutotetereka basi itajipatia umaarufu mkubwa kwa Watanzania walio wengi.
  3. Nyambala

    Nyambala JF-Expert Member

    Apr 29, 2010
    Joined: Oct 10, 2007
    Messages: 4,470
    Likes Received: 21
    Trophy Points: 135
    What do we think they would have responded?? Maana hata the existing law bado walikuwa wanaiona eti inambana mwekezaji!
  4. P

    PELE JF-Expert Member

    Apr 29, 2010
    Joined: Dec 23, 2009
    Messages: 229
    Likes Received: 4
    Trophy Points: 0
    Barrick Profit Tops Estimate on Higher Gold Price (Update4)

    April 28, 2010, 4:23 PM EDT

    By Rob Delaney
    April 28 (Bloomberg) -- Barrick Gold Corp., the world’s largest bullion producer, reported first-quarter profit that beat analysts’ estimates as prices and sales of the precious metal climbed.
    Net income more than doubled to $758 million, or 76 cents a share, from $371 million, or 42 cents, a year earlier, Toronto- based Barrick said today in a statement. Profit excluding some items was 75 cents a share, topping the 63-cent average estimate of 18 analysts surveyed by Bloomberg. Sales rose 44 percent to $2.56 billion
    Chief Executive Officer Aaron Regent is benefiting from gold prices that hit a record $1,227.50 an ounce on Dec. 3, driven by demand for a hedge against inflation and volatility in other markets. Barrick’s average realized gold price rose 22 percent from a year earlier to a record $1,114 an ounce while gold sales increased 21 percent to 2.07 million ounces.
    “Barrick earnings were very strong and highlight a string of quarterly beats versus consensus that sets the company apart from other gold miners,” John Stephenson, who helps manage C$1.6 billion ($1.58 billion) at First Asset Investment Management Inc. in Toronto, said in an e-mailed response to questions.
    Barrick rose C$1.08, or 2.6 percent, to C$42.51 at 4:15 p.m. in Toronto Stock Exchange trading. The shares have gained 19 percent in the past 12 months.
    Gold, Copper
    Increased output in Nevada amid higher gold and copper prices is benefiting Barrick, Patrick Chidley, a Stamford, Connecticut-based analyst at Barnard Jacobs Mellet (USA) LLC, said in an April 26 telephone interview. Copper accounted for about 14 percent of Barrick’s sales last year, according to Bloomberg data.
    “They have a new operation at Cortez Hills, and it’s a very low-cost operation, so that should be a positive for them,” Chidley said.
    The company repeated its 2010 gold output forecast of 7.6 to 8 million ounces with total cash costs of $425 to $455 an ounce. In February, the production forecast was reduced by 100,000 ounces from an earlier projection as part of the spinoff this year of its African production into a new London-listed company, African Barrick Gold Plc. In 2009, Barrick produced 7.42 million ounces of gold at average total costs of $466 an ounce. In 2008, 7.66 million ounces were produced at costs of $443 an ounce.
    Production at the company’s Cortez Mine has been slumping, and the company is aiming to offset the decline with output from the adjacent Cortez Hills. The company predicted total output this year of 1.08 million to 1.12 million ounces from the sites.
  5. P

    PELE JF-Expert Member

    Apr 29, 2010
    Joined: Dec 23, 2009
    Messages: 229
    Likes Received: 4
    Trophy Points: 0
    Hiyo faida kubwa waliyoipata, Tanzania kama nchi imeambulia nini? ZERO!!!! na hii faida ni ya miezi mitatu tu!!!!!
  6. Kinyambiss

    Kinyambiss JF-Expert Member

    Apr 29, 2010
    Joined: Dec 2, 2007
    Messages: 1,372
    Likes Received: 5
    Trophy Points: 135
    What I want to know is WTF is 4% kama sio upumbavu.. But then again my knowledge on international trade has it that it is a disincentive raising from 3-4.. But imagine if all the countries in the region with ample resources said 10% or nothing.. wazungu wataacha kumine gold kweli na uranium? I dont think so watatoa pesa or watapindua
  7. Mzee Mwanakijiji

    Mzee Mwanakijiji Platinum Member

    Apr 29, 2010
    Joined: Mar 10, 2006
    Messages: 31,364
    Likes Received: 6,396
    Trophy Points: 280
    this is when I pray for yule kichaa atakayetufaa in the tradition of Hugo Chavez!
  8. G

    Gagnija JF-Expert Member

    Apr 29, 2010
    Joined: Apr 28, 2006
    Messages: 6,317
    Likes Received: 618
    Trophy Points: 280
    Bado nashindwa kuamini kuwa muswada wa sheria hii ulipelekwa bungeni bila consent ya hawa wezi wa madini yetu.
  9. Elusive

    Elusive JF-Expert Member

    Apr 29, 2010
    Joined: Nov 26, 2008
    Messages: 223
    Likes Received: 1
    Trophy Points: 35
    Indeed thet are acting like spoilt child, they have enjoyed a free ride for quite sometime,
    piling up their profits at the expence of wananchi. Let them follow the new rules if they want
    to stay in business in this country.
  10. B

    Bulesi JF-Expert Member

    Apr 29, 2010
    Joined: May 14, 2008
    Messages: 6,447
    Likes Received: 414
    Trophy Points: 180
    Kwanini unamuita Hugo Chavez kichaa? Je kupenda nchi yako na kuilinda dhidi ya waporaji wa maliasili zenu ni ukichaa? Tunahitaji mtu mwenye akili za Morales na Hugo Chavez ili nasi tuweze kujivuna nchini mwetu badala ya kunyanyaswa!!
  11. Nyunyu

    Nyunyu JF-Expert Member

    Apr 29, 2010
    Joined: Mar 9, 2009
    Messages: 4,370
    Likes Received: 130
    Trophy Points: 160
    Wakuu, kwa hiyo ina maana hiyo 4% ndo serikali imeona imefanya kitu eeh?

    Mbona mi naona ni zuga tu!! MWaka wa uchaguzi tu huu....
  12. Nyunyu

    Nyunyu JF-Expert Member

    Apr 29, 2010
    Joined: Mar 9, 2009
    Messages: 4,370
    Likes Received: 130
    Trophy Points: 160
    Nadhani mkuu MKJJ, anamaanisha tunamhitaji Chavez ndo tuwe sawaaa!!
  13. B

    Boramaisha JF-Expert Member

    Apr 29, 2010
    Joined: Apr 29, 2009
    Messages: 820
    Likes Received: 2
    Trophy Points: 0

    Mzee nakubaliana nawe kwa asilimia. Tunahitaji mtu atakayeweza kuja kufutilia mbali yote haya ambayo yamekuwa yakipitishwa na viongozi wetu utadhani ni vipofu ama viziwi. Tunahitaji 'kichaa' atakayeweka maslahi ya nchi na wananchi mbele kuliko kitu kingine chochote hata kama itabidi tuanze upyaaa kujenga Taifa.
  14. K

    Kilembwe JF-Expert Member

    Apr 29, 2010
    Joined: Aug 19, 2009
    Messages: 1,132
    Likes Received: 45
    Trophy Points: 145
    MM unafikiri bado huyu Musa wa kututoa utumwani Misri na kupeleka katika nchi ya maziwa na asali nchi ya ahadi yupo? najiuliza kila mara ndio tunahitaji watu kama Chavez, Moles na pengine hat watu kama kina Ahmednejad! lakini je kwa mfumo huu na siasa zetu hizi za maji taka na umafioso yuko wapi huyu Musa?
  15. Sikonge

    Sikonge JF-Expert Member

    Apr 29, 2010
    Joined: Jan 19, 2008
    Messages: 11,503
    Likes Received: 539
    Trophy Points: 280
    Hawa waongo sana.

    Waziri wa Madini na makamu wake wala MSITEREREKE. Naona hiyo ripoti ya faida ya BARRICK itumwe kwa Waziri ili Waziri awaambie jinsi wanavyopata faida kwa muda mfupi sana.

    Urusi kule, pamoja na Putin kuwawekea geti kubwa sana na masharti mazito, hadi leo bado wanalilia kwenda kuwekeza kule na yeye HATAKI. Hawa waongo sana sana na sanasana utaona ni akina Deo sijui ndiyo wanakuja kulalamika hapa (Watanzania wenzentu aka boss wa Tanzania Barrick). Sasa kama wao hawataki basi wajiondoe. Ngoja tusubiri kuinunua 50% ya Barrick Gold na wakikosa wa kununua basi hata bei itapungua.

    Nyie Barrick, kama hamtaki, basi NJIA NYEUPE, tuachieni tu mashimo yetu kama mlivyozoea.
  16. G

    Godwine JF-Expert Member

    Apr 29, 2010
    Joined: Jan 15, 2010
    Messages: 1,369
    Likes Received: 45
    Trophy Points: 145
    sidhani kama iki wanachosema asilimia nne kinatosha kweli ni lazima tupate kuanzia asilimia hamsini hivyo basi nia lazima kampuni hizi ziuze hisa kwa wazawa ili wote tunufaike ikishindikana basi serikali ishike hatamu kuendesha migodi yetu, kwani kwa sasa tz lazima tufike maali tuamue moja ili tunufaike na rasilimali zetu watawala wakishindwa basi tuombe jeshi lilinde rasilimali zetu kwa nguvu kwani vyama vya siasa vinaelekea kutumia nguvu zake vibaya, bwana mwamunyange andaa vikosi vya jeshi kuchimba madini yetu kwani hii ni sehemu ya kuonyesha uzalendo wa jeshi letu, hatuwezi kukaa kimya tukishuhudia ukoloni mamboleo ukiendelea
  17. F

    Froida JF-Expert Member

    Apr 29, 2010
    Joined: May 25, 2009
    Messages: 7,903
    Likes Received: 1,330
    Trophy Points: 280
    Barrick kama hawawezi hatuachie migodi waende mbona nchi kama Botswana wanafanya vizuri kwa ajili ya usimamizi mzuri mi nadhani wana bip eti distorted bill wanageuza wabunge na watanzania wote ni madondocha ebu waende huko
  18. Kasheshe

    Kasheshe JF-Expert Member

    Apr 29, 2010
    Joined: Jun 29, 2007
    Messages: 4,690
    Likes Received: 91
    Trophy Points: 145
    Did we expected anything different from mining companies?
  19. B

    Bawa mwamba JF-Expert Member

    Apr 29, 2010
    Joined: Mar 19, 2010
    Messages: 351
    Likes Received: 3
    Trophy Points: 0
    sasa hivi utasikia kuna vipengele vimeongezewa kinyemela na makanjanja wetu. We subiri tu,sababu ya kujitetea ni ile ile, tunalinda wawekezaji maana walitishia kuondoka,tulifanya hivyo kwa ajili ya kuinusuru sekta ya madini na uwekezaji kwa jumla.
  20. j

    jingoist Member

    Apr 29, 2010
    Joined: Mar 24, 2010
    Messages: 39
    Likes Received: 0
    Trophy Points: 0
    ni jambo zuri waziri amefanya kudefend uamuzi wa serikali. BUT na tena BUT kubwa sana, hiyo asilimia 4 ndo watu wamehangaika siku zote hizo kuwa wanabadilisha mikataba kwa manufaa ya mzawa? mimi sijaona huo mkataba, plz kama kuna mwenye access aturushie, au pia kama kuna ambaye anaweza kuutranslate atusaidie hiyo asilimia 4 ni significant kiasi gani in relation na ule wa mwanzo. Otherwise wanaweza kuwa wanatuzuga hawa wajamaa. Ni rahisi sana kulobi na mining companies wareact (the way they are doing) alafu serikali ijidai kusimamia maamuzi na kuwaita spoit child and then sisi waDAnganyika tunaingia mkenge tunaisifu serikali na kuipa kura zetu later this year. Hizi ni hisia tu wadau, otherwise kama mabadiliko kweli yana mantiki ya kutosha then no doubt BIG UP MALIMA!