East Africa To Launch First Gold Trading Hub to Fight Smuggling
Tanzania will launch an international gold trading centre in the gold-rich region of Geita, the centre is among reforms introduced in the mining sector in the past three years to curb mineral smuggling. In February 2019, parliament reviewed and approved the Mining Act to allow the Mining Commission to establish mineral buying and selling centres, the bill will also relieve small-scale miners of the burden of paying withholding tax of 5% and an 18% value added tax.
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 ... Read more »
Parliament has approved a Bill designed to relieve small scale miners of the burden of paying withholding tax of 5% and 18% value added tax. The amendments to the Mining ... Read more »
Mining now contributes around 4.8% to the GDP, up from 3.5%, attributed to new stringent laws and regulations. This includes two new laws on mining that give the government the ... Read more »
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