THE agreement between the government and
Ruling party-CCM presidential candidate, Dr John Magufuli told hundreds of thousands of wananchi who attended his campaign rally at the
The company was established to oversee the management of Barrick's local operations, which are now owned 84 per cent by Barrick and 16 per cent by the government.
The deal provides for a 50/50 sharing of economic benefits generated by the mining operations after the recoupment of capital investments.
Dr Magufuli hit out at some people who for their own reason accused the government of not telling the truth during the negotiation process, saying now, everything has come to light for wananchi to know the truth.
"As we speak today, we have a legal agreement on how to benefit from our resources, we agreed to establish
He said the agreement and other reforms have set precedent in the sector and that it is a good beginning for the nation and its people to benefit from the business.
He said the agreement will enable the government of
The establishment of the company made the government, for the first time in the country's independence history, to have legal secured interests and opening a new era of productive partnership in the mining industry.
This follows the successful negotiations and subsequent signing of a landmark agreement between the government and the
The negotiations could not only lead to the formation of the mining firm, but also to payments of
Besides ending the prolonged dispute, the deal signed by Barrick President and Chief Executive Officer
In October, 2019, Barrick President and Chief Executive
"Twiga Minerals represents a structure which allows the government and the people of
According to him, the agreements also marked the end of the long impasse between the government of
Yesterday, Dr Magufuli said generally his government had successfully made a big step in bringing changes in the sector. He said a total of 147 mining licenses had been provided to small scale miners in
"Mwanza is among mineral-rich regions, I can assure you that my government is doing everything in its capacity to make sure you benefit from the sector. The agreement between the government and
Copyright Tanzania Daily News. Distributed by AllAfrica Global Media (allAfrica.com)., source