{"id":188,"date":"2017-06-09T12:18:11","date_gmt":"2017-06-09T09:18:11","guid":{"rendered":"https:\/\/www.muhunda.co.tz\/?p=188"},"modified":"2017-06-09T22:02:56","modified_gmt":"2017-06-09T19:02:56","slug":"tanzania-says-to-introduce-clearing-fee-for-mineral-exports","status":"publish","type":"post","link":"https:\/\/www.muhunda.co.tz\/?p=188","title":{"rendered":"Tanzania to introduce clearing fee for mineral exports"},"content":{"rendered":"

DODOMA<\/a>, Tanzania<\/a><\/p>\n

Tanzania<\/a> plans to introduce a 1% clearing fee on the value of mineral exports in 2017\/18 (July-June), its finance<\/a> minister said on Thursday, part of government measures aimed at getting a bigger share of revenues from the east African country’s natural resources<\/a>.<\/p>\n

“The government will not allow the direct export<\/a> of minerals from mines,” finance<\/a> and planning minister Philip Mpango<\/a>\u00a0<\/strong>said in his budget speech in parliament.<\/p>\n

\n
\n
“The government will set up clearing houses at international airports, mines and exit border points where a 1% clearing fee will be imposed on the value of mineral exports.”<\/div>\n
<\/div>\n<\/div>\n<\/div>\n

Mpango said the government would announce more details on the new mineral clearing fee at a later date.<\/p>\n

Last month, President John Magufuli<\/a><\/strong> fired his mining<\/a>\u00a0minister and the chief of the State-run mineral audit agency after an investigation into possible undeclared exports by mining<\/a> companies.<\/p>\n

A second audit of the mining<\/a> sector is now underway after Magufuli said the first audit committee said it found Acacia Mining<\/a> had ten times more gold<\/a> in its containers than the company had declared, as well as undeclared minerals such as iron and sulphur.<\/p>\n

Acacia has denied any wrongdoing and said the state’s audit of the company’s gold<\/a> and copper<\/a> ore was inaccurate and has said it would consider its options in the east African country.<\/p>\n

Introduction of the clearing fee also comes after Magufuli ordered a ban on exports of gold<\/a> and copper<\/a> concentrates in March to push for domestic value addition of minerals through the construction<\/a> of a copper<\/a> smelter.<\/p>\n

Magufuli also announced in May that his government would enforce a new rule requiring mining<\/a> companies to list on the country’s stock exchange by August 23.<\/p>\n

Major foreign-owned mining<\/a> companies in Tanzania<\/a> that will be affected by the requirement to list on the Dar es Salaam<\/a>\u00a0Stock Exchange include Acacia Mining<\/a>, AngloGold <\/a>Ashanti and\u00a0Petra Diamonds<\/a>.<\/p>\n

Tanzania<\/a> is Africa<\/a>‘s fourth-biggest gold<\/a> producer and also has vast deposits of coal<\/a>, uranium and precious gemstones<\/a>.<\/p>\n

Magufuli said he hoped the listings would bring more transparency and offer the public a share of the mining<\/a>\u00a0industry’s profits.<\/p>\n

Since coming into office in November 2015, Magufuli has targeted large companies, particularly mining<\/a> and telecoms businesses, in a crackdown on tax evasion.<\/p>\n

Minerals Clearing Fee<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

DODOMA, Tanzania Tanzania plans to introduce a 1% clearing fee on the value of mineral exports in 2017\/18 (July-June), its finance minister said on Thursday, part of government measures aimed at getting a bigger share of revenues from the east African country’s natural resources. “The government will not allow the direct export of minerals from … Continue reading Tanzania to introduce clearing fee for mineral exports<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-188","post","type-post","status-publish","format-standard","hentry","category-dse-stocks-bonds"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/posts\/188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=188"}],"version-history":[{"count":0,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=\/wp\/v2\/posts\/188\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.muhunda.co.tz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}