Min­ing laws be­ing an­a­lysed

The Star Early Edition - - COMPANIES -

AN­GLOGOLD Ashanti said it would an­a­lyse leg­isla­tive changes in Tan­za­nia af­ter the coun­try’s par­lia­ment en­acted the Nat­u­ral Wealth and Re­sources Bill and the Nat­u­ral Wealth and Re­sources Con­tracts Bill on Mon­day. The bills will be sent to Pres­i­dent John Ma­ga­fuli for as­sent. Once as­sented to, the Min­is­ter of En­ergy and Min­er­als will pub­lish the date on which the laws will take ef­fect. At the end of last month, Tan­za­nia’s par­lia­ment pub­lished draft leg­is­la­tion amend­ing the le­gal frame­work of its ex­trac­tive in­dus­try. The draft leg­is­la­tion is yet to be de­bated in par­lia­ment. The world’s third-largest gold-min­ing com­pany said it also noted that the Writ­ten Laws Bill had been tabled in par­lia­ment and was be­ing de­bated. “An­gloGold Ashanti will, in the con­text of its ex­ist­ing Mine De­vel­op­ment Agree­ment, an­a­lyse these laws once they are passed and will pro­vide up­dates in due course,” the com­pany said. An­gloGold Ashanti’s flag­ship mine in Tan­za­nia, Geita, is sit­u­ated in the Lake Vic­to­ria gold­fields of Mwanza Re­gion. Geita was mined as a mul­ti­ple open-pit op­er­a­tion un­til 2015, but un­der­ground min­ing started last year. The mine will op­er­ate as an open-pit and un­der­ground op­er­a­tion un­til all open-pit re­sources have been ex­hausted. – ANA

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