Mines pay over Sh300billion in royalty

[BAK]

Elikana Petro, TMAA Director for Financial Audit and Analysis

The government last year collected Sh310.66 billion as royalty and taxes from large scale mines, according to the Tanzania Minerals Audit Agency (TMAA) annual audit Report.

TMAA Director for Financial Audit and Analysis Elikana Petro mentioned the mines as Bulyanhulu, Buzwagi, Geita, Golden Pride, New Luika, North Mara, Tulawaka, Tanzaniate One and Williamson Diamonds Limited (WDL).

In an interview with this paper in Dar es Salaam this week, Petro described large scale mines to be ones with investment of more than $100 million
He said a total of Sh2.7 billion royalty was also collected from some medium and small scale mining operations as a result of TMAA strategic audits.

The official said they would continue aggressively to monitor and audit large, medium and small scale mining operations this fiscal year to ensure the owners make the required payments to the government as well as conduct activities in sound environmental manner.

The audit cites Geita Gold Mine (GGM) as leading gold producer in 2013 with 37% of total production. In 2013 gold output (from gold bars and copper concentrate products) by major gold mines was the same as the previous year at 1.25 million troy ounces.

Total mineral exports in 2013 from gold bars and copper concentrates produced by the seven major gold mines were 1.24 million troy ounces of gold worth $ 1.74 billion; 12.70 million pounds of copper worth $40.95 million and 0.38 million troy ounces of silver worth $ 8.93 million - making a total worth of $ 1.79 billion, down 17.7 per cent compared to $ 2.17 billion realized in 2012.
The mines are Bulyanhulu, Buzwagi, Geita,Golden Pride, New Luika, North Mara and Tulawaka,

According to the report, royalty to government by the seven major gold mines during the year under review was $ 70.76 million, representing a decrease of 4.47 per cent compared to $ 74.07 million realised in 2012.

He added that Tanzanite One Tanzanite Mine (TTM) produced 3.24 million grammes in 2013. It sold Tanzanite worth $10.97 million, with total royalty paid amounting to $229,545.

Diamonds output at Williamson Diamonds Limited (WDL) during the year was 158,562 carats, up 17.35per cent compared to 135,122 carats produced in 2012.
The mine exported 144,354 carats of diamonds worth $ 39.56 million in 2013, compared to 116,658 carats worth $ 29.85 million the previous year. A total of $ 1.91 million was total royalty paid for the exported diamonds.

Capital investment and operating expenditure was conducted on seven major mining companies, 15 medium scale mining companies and seven mineral dealers.

The audits revealed a number of significant queries which could lead to recovery of lost revenue by government once acted upon by the relevant authorities,

The auditing of minerals produced and exported by major gold mines conducted by TMAA in the year undwer review aimed at ascertaining the quality and quantity of gold, silver and copper production and exports by each mine.

The report says TMAA auditors inspected every smelting session performed in the respective gold rooms including the pouring, marking, weighing and sampling of ingots.

The total value of mineral exports by the seven major gold mines decreased by 17.7 per cent from $ 2.16 billion in 2012 to $ 1.79 billion in 2013, largely due to lower gold prices in the world market during the year.

The TMAA said monitoring and auditing coal production and sales activities continued at Ngaka Coal Mine (NCM). During the year, the mine produced 128,920 metric tonnes and sold 134,063 metric tonnes of coal worth $7.45 million.

Resolute Tanzania Limited (RTL) paid a total of Sh15.53 billion in 2013 as corporate tax. Cumulatively, the company has paid corporate tax amounting to sh.100.39 billion.

Geita Gold Mine Limited (GGML) paid a total of Sh8.97 billion as corporate tax. Cumulatively, the company has paid corporate tax amounting to Sh308.34 billion.

WDL paid alternative minimum tax amounting to Sh178.9 million, withholding tax amounting to Sh2.77 billion which was not paid from payments made to mineral rights holders and mining technical services.

SOURCE:THE GUARDIAN

 

[Bavaria]

Hyo ndo ile 3%??

 

[BAK]

Ukiangalia kwa mapato ya $1.79 Billion ya makampuni hayo 7 katika mwaka 2013 ambayo ni sawa na Tsh 2.95 Trillion (kwa kutumia U$ 1 = Tshs 1,650) hizo shilingi 300 bilioni ni sawa na 10% sasa sijui kama wameongeza hizo royalties au vipi maana melezo wanayoyatoa huwa hayajitoshelezi, au ndio wameshacheza na namba si unayajua MACCM? Hayaaminiki hata kidogo.

Hyo ndo ile 3%??

 

[MAHORO]

... Maccm Yamesha Uza Inchi

 

[Bams]

Watanzania someni vizuri kabla hamjakurupuka na maswali. Ukisoma vizuri utaona taarifa inazungumziwa royalty na corporate tax. Huwezi kukokotoa kiurahisi namna hiyo. Tambua kuwa royalty ni 4% ya production, na siyo 3%. Corporate tax ni 30% ya net profit.

Ukiangalia kwa mapato ya $1.79 Billion ya makampuni hayo 7 katika mwaka 2013 ambayo ni sawa na Tsh 2.95 Trillion (kwa kutumia U$ 1 = Tshs 1,650) hizo shilingi 300 bilioni ni sawa na 10% sasa sijui kama wameongeza hizo royalties au vipi maana melezo wanayoyatoa huwa hayajitoshelezi, au ndio wameshacheza na namba si unayajua MACCM? Hayaaminiki hata kidogo.

 

[BAK]

The audits revealed a number of significant queries which could lead to recovery of lost revenue by government once acted upon by the relevant authorities.

Kwa taarifa yako ni kwamba kwa miaka chungu nzima sasa haya makampuni yamekuwa yakionyesha thamani ndogo ya kile walichoproduce na wakati huo huo kuongeza production and administrative cost makusudi ili kupunguza net profit yao. Hii 30% ya Corporate tax walianza kutozwa lini!?
Muhongo alitaka kuwatoza Barrick na makampuni mengine ya uchimbaji madini na kuwaambia asiyekuwa tayari afunge virago. Barrick wakataka kuuza migodi yao kwa Wachina, Serikali ikapotezea hiyo Corporate tax kimya kimya. Sasa ni lini haya makampuni yameanza kutozwa hiyo Corporate tax ya 30%?

Watanzania someni vizuri kabla hamjakurupuka na maswali. Ukisoma vizuri utaona taarifa inazungumziwa royalty na corporate tax. Huwezi kukokotoa kiurahisi namna hiyo. Tambua kuwa royalty ni 4% ya production, na siyo 3%. Corporate tax ni 30% ya net profit.

 

[Mshana Jr]

Zimefanya kazi gani hizo pesa???

 

[Bams]

Tofautisha habari za mitaani na taarifa rasmi. Migodi yote inalipa corporate tax ya 30% isipokuwa mgodi wa Buzawagi ambao haujarudisha bado capital investment cost. Resolute ilianza miaka 3 iliyopita. Geita Gold Mine walianza kulipa miaka mitano iliyopita.

Barrick wanataka kuondoka siyo kwa sababu ya corporate tax.
Makampuni karibu yote ya madini yanataka kuondoka kutokana na kile kinachotajwa mazingira mabaya ya uwekezaji Tanzania. Tangu Tanzania itajwe na mashirika ya utafiti wa kibiashara kuwa 'unfriendly destination for foreign investments', makampuni yaliyowekeza hapa, hata shares kwenye financial markets zinashuka, na kupata pesa kutoka masoko ya pesa inakuwa ni ngumu sana.

Kuna mmoja ameuliza swali la msingi sana, 'fedha hizo zimefanya nini?. Pesa inayotokana na madini inatakiwa ijenge uchumi wa sekta nyingine, hapa kwetu tunajenga sekta gani kwa kutumia hela ya madini?

The audits revealed a number of significant queries which could lead to recovery of lost revenue by government once acted upon by the relevant authorities.

Kwa taarifa yako ni kwamba kwa miaka chungu nzima sasa haya makampuni yamekuwa yakionyesha thamani ndogo ya kile walichoproduce na wakati huo huo kuongeza production and administrative cost makusudi ili kupunguza net profit yao. Hii 30% ya Corporate tax walianza kutozwa lini!?
Muhongo alitaka kuwatoza Barrick na makampuni mengine ya uchimbaji madini na kuwaambia asiyekuwa tayari afunge virago. Barrick wakataka kuuza migodi yao kwa Wachina, Serikali ikapotezea hiyo Corporate tax kimya kimya. Sasa ni lini haya makampuni yameanza kutozwa hiyo Corporate tax ya 30%?

 

[Kiriba]

Sasa hizo hela hua zinapelekwa wapi, kwasababu kilasi tunakopa, serekali inashindwa kulipa mishahara etc.

 

[Mshana Jr]

Tofautisha habari za mitaani na taarifa rasmi. Migodi yote inalipa corporate tax ya 30% isipokuwa mgodi wa Buzawagi ambao haujarudisha bado capital investment cost. Resolute ilianza miaka 3 iliyopita. Geita Gold Mine walianza kulipa miaka mitano iliyopita.

Barrick wanataka kuondoka siyo kwa sababu ya corporate tax.
Makampuni karibu yote ya madini yanataka kuondoka kutokana na kile kinachotajwa mazingira mabaya ya uwekezaji Tanzania. Tangu Tanzania itajwe na mashirika ya utafiti wa kibiashara kuwa 'unfriendly destination for foreign investments', makampuni yaliyowekeza hapa, hata shares kwenye financial markets zinashuka, na kupata pesa kutoka masoko ya pesa inakuwa ni ngumu sana.

Kuna mmoja ameuliza swali la msingi sana, 'fedha hizo zimefanya nini?. Pesa inayotokana na madini inatakiwa ijenge uchumi wa sekta nyingine, hapa kwetu tunajenga sekta gani kwa kutumia hela ya madini?

Lakini kwa asilimia kubwa hawa wawekezaji wa Tanzania ni waongo wakubwa wanaunderdeclare mapato yao iliwaonekane wamepata hasara
Grace period ya msamaha wa kodi ikifika wanasema uwekezaji ni ngumu Tanzania wanajifanya kuondoka lakini ukweli ni kwamba hawaondoki bali wanarudi kwa mlango wa nyuma wanaanza tena upya au wanauza uwekezaji husika kwa faida kubwa wao wanaanza mbele washatengeneza super profit
Hicho kidogo kinacholipwa kinaishia huko serikalini ! TANZANITE inaisha sasa Mererani itaachiwa kumbukumbu gani ? Mashimo ya kufugia wezi nguchiro na mbu? Halafu haohao waliochukua madini yetu watuletee msaada wa vyandarua?
Merenani ni mfano mmoja tu wa jinsi nchi Hii inavyotafunwa na wanachukua kila kitu hawaachi chochote

 

[Bavaria]

Ukiangalia kwa mapato ya $1.79 Billion ya makampuni hayo 7 katika mwaka 2013 ambayo ni sawa na Tsh 2.95 Trillion (kwa kutumia U$ 1 = Tshs 1,650) hizo shilingi 300 bilioni ni sawa na 10% sasa sijui kama wameongeza hizo royalties au vipi maana melezo wanayoyatoa huwa hayajitoshelezi, au ndio wameshacheza na namba si unayajua MACCM? Hayaaminiki hata kidogo.

Ukiona hvyo exports ya madini ni zaidi ya hyo figure iliyowekwa hapo. Kwasababu ndani ya article hatujaoneshwa kama mrabaha umeongezwa au lah.

 

[Baba Joseph17]

Mines pay over Sh300billion in royalty

By Aisia Rweyemamu


9th August 2014

Elikana Petro, TMAA Director for Financial Audit and Analysis


The government last year collected Sh310.66 billion as royalty and taxes from large scale mines, according to the Tanzania Minerals Audit Agency (TMAA) annual audit Report.

TMAA Director for Financial Audit and Analysis Elikana Petro mentioned the mines as Bulyanhulu, Buzwagi, Geita, Golden Pride, New Luika, North Mara, Tulawaka, Tanzaniate One and Williamson Diamonds Limited (WDL).

In an interview with this paper in Dar es Salaam this week, Petro described large scale mines to be ones with investment of more than $100 million
He said a total of Sh2.7 billion royalty was also collected from some medium and small scale mining operations as a result of TMAA strategic audits.

The official said they would continue aggressively to monitor and audit large, medium and small scale mining operations this fiscal year to ensure the owners make the required payments to the government as well as conduct activities in sound environmental manner.

The audit cites Geita Gold Mine (GGM) as leading gold producer in 2013 with 37% of total production. In 2013 gold output (from gold bars and copper concentrate products) by major gold mines was the same as the previous year at 1.25 million troy ounces.

Total mineral exports in 2013 from gold bars and copper concentrates produced by the seven major gold mines were 1.24 million troy ounces of gold worth $ 1.74 billion; 12.70 million pounds of copper worth $40.95 million and 0.38 million troy ounces of silver worth $ 8.93 million - making a total worth of $ 1.79 billion, down 17.7 per cent compared to $ 2.17 billion realized in 2012.
The mines are Bulyanhulu, Buzwagi, Geita,Golden Pride, New Luika, North Mara and Tulawaka,

According to the report, royalty to government by the seven major gold mines during the year under review was $ 70.76 million, representing a decrease of 4.47 per cent compared to $ 74.07 million realised in 2012.

He added that Tanzanite One Tanzanite Mine (TTM) produced 3.24 million grammes in 2013. It sold Tanzanite worth $10.97 million, with total royalty paid amounting to $229,545.

Diamonds output at Williamson Diamonds Limited (WDL) during the year was 158,562 carats, up 17.35per cent compared to 135,122 carats produced in 2012.
The mine exported 144,354 carats of diamonds worth $ 39.56 million in 2013, compared to 116,658 carats worth $ 29.85 million the previous year. A total of $ 1.91 million was total royalty paid for the exported diamonds.

Capital investment and operating expenditure was conducted on seven major mining companies, 15 medium scale mining companies and seven mineral dealers.

The audits revealed a number of significant queries which could lead to recovery of lost revenue by government once acted upon by the relevant authorities,

The auditing of minerals produced and exported by major gold mines conducted by TMAA in the year undwer review aimed at ascertaining the quality and quantity of gold, silver and copper production and exports by each mine.

The report says TMAA auditors inspected every smelting session performed in the respective gold rooms including the pouring, marking, weighing and sampling of ingots.

The total value of mineral exports by the seven major gold mines decreased by 17.7 per cent from $ 2.16 billion in 2012 to $ 1.79 billion in 2013, largely due to lower gold prices in the world market during the year.

The TMAA said monitoring and auditing coal production and sales activities continued at Ngaka Coal Mine (NCM). During the year, the mine produced 128,920 metric tonnes and sold 134,063 metric tonnes of coal worth $7.45 million.

Resolute Tanzania Limited (RTL) paid a total of Sh15.53 billion in 2013 as corporate tax. Cumulatively, the company has paid corporate tax amounting to sh.100.39 billion.

Geita Gold Mine Limited (GGML) paid a total of Sh8.97 billion as corporate tax. Cumulatively, the company has paid corporate tax amounting to Sh308.34 billion.

WDL paid alternative minimum tax amounting to Sh178.9 million, withholding tax amounting to Sh2.77 billion which was not paid from payments made to mineral rights holders and mining technical services.

SOURCE:THE GUARDIAN

Hii royalt kama ndo ile 4% mbona hesabu haziendani hafu waangalie na madini mengine kama galena, graphite, construction materials, other gemstones. Hafu hao vijana wanakagua madini wawe wazalendo kwelikweli maana hao wazungu wanaweza kuwabribe

 

[Ba Loreen]

bado ni hela ndogo sana hatuwezi kujivunia tunanufaika na madini.

 

[Kibanga Ampiga Mkoloni]

Hii royalt kama ndo ile 4% mbona hesabu haziendani hafu waangalie na madini mengine kama galena, graphite, construction materials, other gemstones. Hafu hao vijana wanakagua madini wawe wazalendo kwelikweli maana hao wazungu wanaweza kuwabribe

Nadhani kuna combination tofauti hapo, kuna wale wa 3% na kuna wale walio anza kulipa kodi tayari kw amaana migodi yao inadhalisha faida tayari.

 

[Baba Joseph17]

Nadhani kuna combination tofauti hapo, kuna wale wa 3% na kuna wale walio anza kulipa kodi tayari kw amaana migodi yao inadhalisha faida tayari.

Migodi yote iliyotajwa imeshaoperate more than 5 years hivyo hata kama kuna mtu ameinunua hawezi kuanza from zero,

 

[BAK]

Hebu acha kuandika pumba banaaaa! usidhani kila mtu anayeandika hapa anaandika "habari za mitaani". Nimekuuliza hiyo 30% Corparate tax imeanza kutumika lini? Naomba ujibu hili swali badala ya kulikimbia.

Muhongo July 2012 alitangaza Serikali kuanza kuwacharge makampuni yote ya uchimbaji wa madini nchini 30% kwa yale makampuni ambayo yalikuwepo nchini kwa miaka mitano na kuendelea, na wiki mbili baadaye ndiyo Barrick wakatangaza kuuza migodi yao ili kuondoka nchini kwa visingizio ambavyo si vya kweli, mbona hawakuuza sasa na hivyo kuondoka nchini? Au "mazingira ya wawekezaji yaliboreshwa" Muhongo baadaye akaikana kauli yake kwamba Serikali itaanza kuyacharge makampuni yote ya uwekezaji nchini ambayo yapo mwa miaka mitano na kuendelea hiyo corporate tax ya 30%:


Tanzania introduces 30% corporate tax

July 30, 2012

Bulyanhulu gold mine
"' one of four owned
by African Barrick
in Tanzania
Dodoma, Tanzania - 30 July 2012 – The government of Tanzania "' Africa's fourth largest gold producer "' has told mining companies operating in the country for more than five years to start paying a corporate tax of 30%, citing rising prices of precious metals on the world market as the reason.

Reuters quotes energy and minerals minister Sospeter Muhongo as telling parliament that Tanzania's gold export earnings rose 31% last year to US$1.879 billion from US$1.436 billion a year earlier on higher world prices for the commodity.

The minister said the government wanted to earn higher revenues from mining companies due to the rising gold price, and added that it had ordered audits of all large-scale gold mines in the country to ensure that they started paying corporate taxes after recovering their costs of production.

"I am instructing all mining companies that have been in operation for more than five years to start paying corporate tax without any excuses," he added. "If they claim they are still making losses and can't contribute to the national economy through taxes, they should shut down their mines and leave because minerals do not rot."

Major gold mining companies in Tanzania include African Barrick Gold plc, which has four gold-producing mines, AngloGold Ashanti Limited and Resolute Mining Limited.

He did not say which of these mines were affected, but said Geita Gold Mine owned by AngloGold Ashanti and the Golden Pride mine owned by Resolute had already paid a total of 228.5 billion shillings in corporate taxes.

Muhongo revealed that the government was evaluating 11 bids from investors for a stake in the state-run Buhemba gold mine, and had also invited bids for a joint venture project to develop a state-run coal mine with 35.5Mt of reserves. "By June 2012, the State Mining Corporation had received bids from 16 foreign and local companies to enter into joint venture to develop this project," he added.

Muhongo went on to say that Tanzania had 136.5Mlbs of uranium oxide, with Australia-based miner Mantra Resources given a go-ahead to build a US$450 uranium mine at a world heritage park, after the project had received approval from UNESCO, the U.N. cultural agency.


Wiki mbili baadaye ndiyo Barrick wakadai wanataka kuondoka nchini na hivyo kuuza migodi yao kwa Wachina. Unadhani management ya Barrick itawaambia Watanzania na Serikali kwamba tunaondoka kwa sababu hatutaki kulipa 30% ya corporate tax!? Wakatoa visingizio kwamba bei ya umeme ni kubwa sana na umeme wenyewe hukatikakatika mara kwa mara na hivyo kuathiri uzalishaji kitu ambacho hawakuwahi kikisema tangu walipoingia nchini mwaka 1999. Na tangu mwaka huo hadi 2011 makampuni hayo yaliuza dhahabu yenye thamani ya $12 billion na nchi kuambulia $450 million tu na asilimia kubwa ya mapato hayo yalienda Barrick, hata siku moja huwezi kuita uwiano kama huo ni "mazingira mabaya kwa wawekezaji"

Jamie Sokalsky has made his first big move as Barrick Gold Corp.'s chief executive officer, putting the company's high-cost Africa unit on the block as part of a larger shift in strategy.

The world's largest gold miner is in preliminary talks to sell African Barrick Gold PLC to state-owned China National Gold Group Corp. A successful deal, which analysts expect would bring in about $2.5-billion, would give some financial relief to Barrick Gold as it struggles with billions in cost overruns at a key growth project in the southern Andes, and continues to absorb the $7.3-billion cash purchase of Equinox Minerals last year.


TORONTO, VANCOUVER - The Globe and Mail


Published Thursday, Aug. 16 2012, 5:20 AM EDT

Last updated Thursday, Aug. 16 2012, 8:16 PM EDT


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Video: Any offer for African Barrick is a good one

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Video: A closer look at Barrick's results


Barrick Gold chairman Peter Munk (right) chats with company president and CEO Aaron Regent during their annual general meeting in Toronto on Wednesday May 2, 2012

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Video: High anxiety and high drama at Barrick


Aaron Regent of Barrick Gold answers questions during a Reuters Summit in Toronto, March 26, 2012.

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The negotiations, which the company said are "at an early stage," are a signal of intent by Mr. Sokalsky, who was appointed in early June to replace Aaron Regent, who was sacked by the board. The new CEO has pledged to focus on generating higher returns from its projects, rather than simply increasing production. They also highlight China's growing desire to be an owner of large-scale resource projects around the world, an ambition that led another state-owned corporation, CNOOC Ltd., to make a $15.1-billion bid for Calgary oil and gas producer Nexen Inc.

The mines of African Barrick – all in Tanzania – include some of the largest producers on the continent, but they are also some of the most expensive to run for a company that is otherwise among the world's lowest-cost gold producers. The cost of producing an ounce of gold at the four mines was on average $938 an ounce in the first half of the year, compared to between $550 and $575 for Barrick as a whole.

Higher expenses in Tanzania stem from a host of factors related to its complicated terrain, political risk and even the need to train workers from scratch. The costs were a major reason why Barrick spun off the unit in an initial public offering in 2010, while keeping a 74 per cent stake.

"Those assets are all high-operating-cost assets, so I think a sale would make Barrick's cost profile much more attractive relative to peers," said Pawel Rajszel, an analyst at Veritas Investment Research in Toronto.

Analysts say Barrick will likely look at further divestitures as it struggles to right itself after some of the most tumultuous quarters in its history. After firing Mr. Regent, it announced a company-wide review of operations, pledging to shelve or sell assets that were not performing.

Its stock price, which reached $55 in 2010, has been battered by risk-averse investors who have questioned the company's direction as the industry battled aggressive cost inflation. It rose nearly 4 per cent on the African Barrick news, however, closing at $35.60 in Toronto.

Talks with China National Gold started several weeks ago, as global gold producers circled Barrick's assets following the CEO change. That was also when Barrick appointed John Thornton, a China expert and former Goldman Sachs president, as co-chairman of the board.

An acquisition makes sense for China National Gold, which has given a mandate to a Vancouver-based subsidiary, China Gold International Resource Corp. Ltd., to look for acquisitions to grow gold production at its Chinese parent. China is poised to become the world's largest gold consumer on an annual basis by the end of this year, the World Gold Council said this week. China Gold is that country's largest gold producer.

Still, analysts are taking the news with a pinch of salt, paying special heed to the language used to describe discussions. Like Barrick, China Gold International says the talks are "very preliminary."

"The question we would ask therefore is whether China Gold is a really keen buyer, or the only buyer in the market," Citigroup analyst Jon Bergtheil said in a research note.

A sale would just about cover the cost overruns of as much as $3-billion that Barrick is anticipating at Pascua-Lama, the gold mine it is building along the Andes mountain range between Chile and Argentina, facing construction delays of up to one year.

The company has shelved the Cerro Casale project in Chile and Donlin Gold in Alaska, and slashed a 2015 production target to eight million ounces of gold from nine million previously.

"In my view, rate of return should drive production, not the other way around," Mr. Sokalsky said in his first public statements at Barrick's helm on July 26, when he pledged to take steps to reverse the company's recent slumping stock price.

In 2011, African Barrick contributed 509,000 ounces of gold to the parent company's total output of 7.7 million ounces. In 2012, it expects equity gold production to be in the range of 500,000 to 535,000 ounces, reflecting its 73.9 per cent ownership.

Tofautisha habari za mitaani na taarifa rasmi. Migodi yote inalipa corporate tax ya 30% isipokuwa mgodi wa Buzawagi ambao haujarudisha bado capital investment cost. Resolute ilianza miaka 3 iliyopita. Geita Gold Mine walianza kulipa miaka mitano iliyopita.

Barrick wanataka kuondoka siyo kwa sababu ya corporate tax.
Makampuni karibu yote ya madini yanataka kuondoka kutokana na kile kinachotajwa mazingira mabaya ya uwekezaji Tanzania. Tangu Tanzania itajwe na mashirika ya utafiti wa kibiashara kuwa 'unfriendly destination for foreign investments', makampuni yaliyowekeza hapa, hata shares kwenye financial markets zinashuka, na kupata pesa kutoka masoko ya pesa inakuwa ni ngumu sana.

Kuna mmoja ameuliza swali la msingi sana, 'fedha hizo zimefanya nini?. Pesa inayotokana na madini inatakiwa ijenge uchumi wa sekta nyingine, hapa kwetu tunajenga sekta gani kwa kutumia hela ya madini?