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- Tanzania’s Mining Act, which governs the exploration, extraction, and processing of minerals, is crucial in shaping the industry’s landscape.
- Since gaining independence, Tanzania’s approach to mining legislation has evolved significantly.
- The Mining Act in place today in Tanzania was designed to create a conducive environment for mining investments while safeguarding the nation’s interests and promoting sustainable development.
Tanzania’s mining sector is a significant pillar of the economy, contributing to the country’s GDP, employment, and foreign exchange earnings. The Mining Act, which governs the exploration, extraction, and processing of minerals, is crucial in shaping the industry’s landscape.
Over time, evolving challenges and the dynamic global mining environment have necessitated periodic reviews and amendments to this legislation. The latest proposed bill seeks to amend the Mining Act to address current issues, enhance sector governance, and ensure the sustainable development of Tanzania’s mineral resources.
Historical Context and Evolution of Mining Legislation in Tanzania
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On October 12th, Law no. 35/20 – the Free Trade Zones Law (“FTZL”) – was passed. The FTZL has established benefits to be conceded to investors by the Angolan Government, aiming at attracting foreign investment in Angola thus creating economic growth.
All types of investment are permitted in the Free Zones, specifically investment in agriculture, industry (that use Angolan raw materials and are focused on exportation) and technology. Specific aspects pertaining the access to Free Zones (such as monetary requirements, number of jobs created, investments in fixed assets) shall be determined in the investment contract.
Access to the Free Zones is permitted to companies, joint ventures, groups of companies or any other form of companies’ representation, whose scope meets the purpose of the Free Zones.
The investments made in Free Zones must take into account environmental protection interests.
Activities to be developed in the Free Zones
In the Free Zones …