April 28, 2017

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Tanzania upholds ban on export of metallic mineral concentrates

President John Magufuli (credits: https://upload.wikimedia.org/wikipedia/commons/thumb)

The Government of Tanzania has stuck to its guns by maintaining the ban on the export of metallic mineral concentrates from the country, which was published in a directive on 3rd March, despite concerns in the mining sector.

In the intervening time, mining companies have been engaging with government in a bid to have the decision reversed, according to Acacia Mining Plc.

Says the company in an update published on its website: “Since the announcement we have been engaging with key Government officials and other stakeholders in an attempt to have the directive lifted. To date, there has not yet been a change in the situation.

“Acacia is a long term investor in Tanzania and we are fully committed to supporting local businesses. To this end we have offered to support and partner with the Government in a new study by third party experts to assess the economic potential of building of a smelter in Tanzania capable of processing our concentrate. “

The company says its Bulyanhulu and Buzwagi  mines, the combined direct impact of the current directive is the average daily loss of revenues of more than US$1 million per day. It adds that it is taking a range of actions to help manage this financial impact, whilst ensuring we continue to safely operate the mines.

The Government of Tanzania under the administration of President John Magufuli would like to see the country get more value from its mineral resources through beneficiation.

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