The formulation of the Mineral Policy of Tanzania in 1997 and the Mining Act of 1998 The study recommends that Tanzania should adopt Gross Revenue form of royalty and Figure 1 provides statistical data on minerals royalties paid to the Tanzania Government by
Tanzania is seeking to take more of the profits from its vast mineral resources by overhauling the fiscal and regulatory regime of its mining sector. Acacia Mining admits in talks with Chinese
3 Improving Mining evenue Collection Tananias Mineral Audit Agency undertaken by the gold audit program, to include medium and small sized companies, as well as all mineral types, in addition to large scale gold mines.
Barrick Gold, the world's largest gold miner, runs Tanzania's largest mine, Bulyanhulu, with 12m ounces in gold reserves. Barrick also own Buzwagi (3.3m ounces) and North Mara (3m ounces), and maintain a 70% stake in Tulawaka (80,000 ounces).
Tanzania is a land rich in minerals. Mining makes up more than 50% of the countrys total exports, of which a large part comes from gold.The country has gold reserves of 45 million ounces, generating revenue of over a billion USD. Diamonds are also found in significant amounts. Since it was opened in 1940, the Williamson diamond mine has produced 19 million carats (3,800 kg) of diamonds.
Africas fourth largest gold producer is seeking a bigger slice of the pie from its vast mineral resources by overhauling the fiscal and regulatory regime of its mining sector.
Bulyanhulu is an underground gold mine in the Shinyanga region of Northwestern Tanzania, located 55km south of Lake Victoria and operated by Acacia Mining (LON ACA). Bulyanhulu commenced commercial production in 2001 and has produced over 3m oz of gold to date.
Geita open pit mine, located in northwestern Tanzania, is AngloGolds largest single gold mining operation. (Image AngloGold Ashanti.
Gold mining at Buzwagi in the Shinyanga region of Tanzania. A government probe has cast doubt on the continued operation of Acacia Mining in Tanzania based on findings that the company was not registered in