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Browsing: Resource Nationalisation
- 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.
