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- Legal disputes as Tanzania settled with Winshear Gold Corp Canadian mining company, ending up paying $30 million following a dispute over the expropriation of its SMP Gold project in Southwest Tanzania.
- After breaching treaty Tanzania is liable to pay Australian mining firm Indian Resources Limited at least $109 million in damages.
- Tanzania began taking the trend of legal battles to the mainstream in the past years.
By July 2023, Tanzania had lost five cases related to the bilateral investment treaties, and these cases cost the East African government millions of dollars, according to the Tanzanian Trade and Investment Coalition (TATIC).
For instance …
For over 20 years, Acacia and its forerunner mining companies including African Barrick Gold, Barrick Gold, Placer Dome, Pangea Minerals and Afrika Mashariki have been operating in Tanzania in three gold mines, Bulyanhulu, Buzwagi and North Mara, found in the north-west region of Tanzania.
Acacia-Tanzania’s largest gold producer was recently cleared by the Magufuli government and resumed its metal concentrates exportation after a series of regulations led by The Mining Commission of Tanzania Ministry of Minerals that impeded the export of the mineral.
In a press release published by Acacia on 15th August, export permits are now received by Acacia that noted to have missed 30 percent of sales since the ban went live.
Despite the latter, Acacia and Tanzania could mutually benefit form the mining industry which has grown by 10 percent in the first quarter, according to Tanzania’s National Bureau of Statistics (NBS) 2019 first quarter highlights.…
Tanzania has recently lifted its halt on Acacia Mining exporting its gold which was issued on March 3rd 2017.
The leading African gold miner with over 15 years, faced the suspension after Government of Tanzania took a keen eye on its mining operation in North Mara, located in the northern part of Tanzania.
Acacia published a press release on August 9th documenting the good news relayed by the Mining Commission of Tanzania.
“Acacia notes that today it’s North Mara Gold Mine has received a letter from the Mining Commission of the Tanzanian Ministry of Minerals (the “Mining Commission”) authorizing the Company to resume gold exports from North Mara subject to its adherence to the export procedure. The letter follows an investigation which the Mining Commission conducted at the mine on 30 and 31 July 2019 and an earlier letter dated 12 July 2019 from the Mining Commission which …