Bloomberg News

Tanzania’s Mines Minister Says Companies Agree to 4% Royalty

October 19, 2011

Oct. 19 (Bloomberg) -- Tanzania’s mines ministry and companies operating in the country have agreed to a royalty rate of 4 percent, up from the current 3 percent, William Ngeleja, the country’s minister of energy and minerals, told reporters in Arusha today.

The new royalty will be imposed this year, he said.

“We have basically reached an agreement with the mining companies on the matter,” he said.

To contact the reporter on this story: David Malingha Doya in Dar es Salaam at dmalingha@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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