Tanzania Relaxes Protectionist Regulations in Mining Sector

The Mining Regulations on Local Content 2019 which came into effect on February 8 has relaxed the mining sector regulations that require local companies to own controlling stake in multinationals, opening the gates for more local commercial banks to participate in mining activities.The new regulations slightly reduced the stringent banking requirements allowing mining companies to maintain bank accounts in Tanzanian banks. 

One of the gold mining sites supervised by local artisanal miners in Katenga Engaju Sub-county, Buhweju District (file photo).

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