Update on New Legislation in Tanzania

14 Jul 2017

Acacia notes the publication in Tanzania’s official Government Gazette of new legislation governing the natural resources sector. Of the legislation passed, the Written Laws Miscellaneous Amendment Act, being an amendment bill to the 2010 Mining Act, is now in force and is being applied by Tanzanian authorities.

Acacia continues to monitor the impact of the new legislation in light of its Mineral Development Agreements with the Government of Tanzania. However, to minimise further disruptions to our operations we will, in the interim, satisfy the requirements imposed as regards the increased royalty rate applicable to metallic minerals such as gold, copper and silver of 6% (increased from 4%) in addition to the recently imposed 1% clearing fee on exports.