Tanzania’s parliamentary standing committee on energy and minerals on Monday commended the government’s massive reforms that was undertaken in minerals sector.
The committee said the reforms in the minerals sector pioneered by president John Magufuli have started benefiting the east African nation in terms of increased government royalties collected from the sector, among other benefits.
The committee made the commendation after the Ministry of Minerals and its institutions had presented its implementation report for half of the 2019/2020 financial year in the capital Dodoma.
The report presented to members of the parliamentary standing committee on energy and minerals showed that the Ministry of Minerals through the Commission for Minerals collected royalties from mining to the tune of 243 billion Tanzanian shilling (about 105 million U.S. dollars) by December 31, 2019.
The report further showed that some 5,546 kilograms of gold were sold in minerals trading centers in Geita, Chunya, Kahama, Mwanza and Mara between July and November 2019 compared to 1,188 kilograms of gold sold before the centers were established.
In July 2017, Tanzania’s parliament passed three bills which effectively overhauled the country’s mining policy regime. The royalty rate on gold was raised from 4 percent to 6 percent. Enditem