Attend this 2 day event and receive insight into the NEW mining regulations and orders of Tanzania PLUS attend the 2 interactive workshops on the Tanzania Fiscal Regime and Local Content Policy.
The Tanzanian government has overhauled the fiscal and regulatory regime of its Mining sector. Under 9 new regulations which the mining ministry passed in January and February this year, Tanzania will now make it compulsory for foreign-owned mining groups to offer shares to the government and local companies.
The Mining (Local Content) Regulations of 2018 are now in effect. According to this regulation a contractor, sub-contractor, licensee (mining company) or other allied entity shall maintain a bank account with an indigenous Tanzanian bank and transact business through banks in the country. The local content regulation imposes a fine of at least $5 million for mining companies that fail to implement the new requirements.
The Mineral Rights Regulations provide for how mineral rights holders can apply for mineral rights licenses and the procedure, costs and requirements for such licenses.
“Tanzanian President John Magufuli on 18 April 2018, appointed a chairperson and commissioners for the country’s new mining commission, Mr Idris Kikula. The appointment of the mining commission and new regulations published this year mean the country can now resume issuing new mining licences to investors.”
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