April 20, 2018

Tanzania grapples with foreign gold miners

New Tanzanian mining commission brings fresh rules but fails to derail golden status quo.

Tanzania, currently Africa’s fourth-largest gold producer, could be following in the footsteps of the continent’s other nations in restricting foreign involvement in its mining sector following the appointment of Idris Kikula as chairman of the country’s newly-formed mining commission.

The formation of the commission follows months of discussions between Tanzanian authorities and the country’s largest gold miner, UK-listed Acacia Mining (LSE: ACA) which operates three major mines in the country including Buzwagi, North Mara and Bulyanhulu.

Written by George Tchetvertakov
Published by Small Caps