Capital Drilling Ltd stated in an RNS today that "the suggested changes to the legislation
are principally focused on mining groups and the percentage of local ownership"
Tanzania: Govt - Dangote,
Mining Firms Have 3 Months to List On DSE
Dodoma — The government has said 12 mining companies, including
Dangote Industries Limited, must start processing of listing a minimum of 30
per cent of each company's shareholding at the Dar es Salaam Stock Exchange by
August this year.
Tabling the budget of the Energy and Minerals ministry
yesterday, the minister of Industry, Trade and Investment, Mr Charles Mwijage,
named other mining firms that should list at the DSE by August as Acacia's
owned Bulyanhulu and North Mara Gold Mine as well as Pangea Minerals Ltd.
Other firms, according to Mr Mwijage, are Geita Gold Mining
Ltd, Stamigold Company Ltd, Williamson Diamonds Ltd, Mantra Tanzania Ltd and
El-Hilal Minerals Ltd and yet other mining companies are Kiwira Coal Mines Ltd,
Tanzania China International Mineral Resources Ltd and Uranex Tanzania Ltd.
Mr Mwijage tabled the Energy and Minerals ministry's budget
in Parliament yesterday on behalf of the minister responsible for it, the
position that is still vacant after the resignation of Prof Sospeter Muhungo
last week over the mineral concentrates issue. A committee of experts appointed
by President John Magufuli had found out that Acacia had under declared the
amount of minerals in the concentrates and President Magufuli had asked Prof
Muhongo to take responsibility by resigning.
Yesterday, Mr Mwijage said the mining firms in question were
to list at the DSE by August after regulations were revised in February. In
October 7, 2016, the government through the government Notice No 286 published
the Mining (Minimum Shareholding and Public Offering) Regulations, 2016 that
required mining companies holding special mining licences to list a minimum of
30 per cent of their shares to the DSE within two years for those firms that
existed before the publishing of the regulations. Firms that would acquire the
licences were to register at the DSE within one year of their existence,
according to Mr Mwijage.
"But the government made some
amendments and came up with the Mining (Minimum Shareholding and Public
Offering) (Amendment) Regulations, 2016 that were published on February 24,
2017 by the GN No 44, requiring mining companies that were in existence at the
publication of the regulations to list a minimum of 30 per cent of their shares
at the DSE within six months after the publication of the new
regulations," Mr Mwijage said in his speech. He added: "The amended
regulations require those mining firms that will come into existence after the
publication of the regulations to list at the DSE immediately."
The listing of mining companies is a requirement of the
Mining Act, 2010. "This is an opportunity and I would advise Tanzanians to
wake up and buy shares in those companies once they start selling shares to
have ownership of the mining resources," said Mr Mwijage.
Meanwhile, even as Mr Mwijage was
tightening the noose on mining firms in Parliament President Magufuli for his
part wanted the Tanzania Communication Regulatory Authority to deregister any
telecommunication companies that had not listed at the DSE in accordance with
the law instead of penalising them. He said this when he was officiating at the
launching of the Electronic Revenue Collection System (ERCS) to improve tax
collection
Source: The Citizen allAfrica