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Metals, mineral exports banned in Tanzania

17th March 2017

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

     

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Aim-listed Acacia Mining last week said it had ceased exports of gold and copper concentrate from its operations in Tanzania, following a directive from the country’s Ministry of Energy and Minerals.

In a statement, Acacia said it was urgently seeking further clarification on the ban, with gold and copper concentrate amounting to almost 30% of group revenues.

The Ministry last week said gold, copper, nickel and silver exports had been banned with effect from March 2 in a move to ensure mineral value-addition activities were carried out within the country.

This, it added, was emphasised in the Mineral Policy of 2009 and the Mining Act of 2010. “Mineral value addition activities will provide employment opportunities, revenues and technology transfer – hence, more benefits to the nation,” the Ministry said.

“All companies and individuals who were exporting concentrates and mineral ores to foreign countries for beneficiation, including processing, smelting or refining, will immediately stop, and start doing such activities within the country,” the Ministry noted.

It added that the government of Tanzania would provide all the necessary support for stakeholders involved in mineral beneficiation activities in the country, particularly the smelting and refining of minerals.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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