Adoption of mining laws

On 5 July 2017, the President of the United Republic of Tanzania has signed a number of bills into laws, including the Natural Wealth and Resources (Permanent Sovereignty) Act 2017, and the Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Act 2017. The laws grant the government stakes of at least 16 per cent in mining companies operating in the country, with the option to acquire up to 50 per cent in some cases. Also, they increase the royalty tax on gold copper, silver and platinum exports to six per cent from four per cent. Further, they grant the government the right to review and renegotiate contracts for natural resources like gas or minerals, and remove the right to international arbitration.

• Type:

  • Entry and establishment (Ownership and control)
  • Treatment and operation (Dispute settlement)

• Industry:

  • Primary (Mining and quarrying)

• Sources:

  • Gazette of the United Rpublic of Tanzania, Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Act, 2017, 27 Jul 2017
  • Gazette of the United Rpublic of Tanzania, Natural Wealth and Resources (Permanent Sovereignty) Act, 2017, 27 Jun 2017
  • Reuters, Tanzania's president signs new mining bills into law, http://www.dailymail.co.uk/wires/reuters/article-4682704/Tanzanias-president-signs-new-mining-bills-law.html , 10 Jul 2017