As part of measures aimed at increasing transparency and spreading wealth from the country's natural resources, the government of Tanzania is set to enforce a new rule requiring mining companies to list on its bourse by August.
"By listing these companies on the stock exchange, we will be able to monitor how much (revenue) they actually get," President John Magufuli said.
The government issued regulations last year requiring holders of special mining licences to sell a 30 percent stake in their companies via an initial public offering within two years.
The mining ministry amended the rules in February and set a new listing deadline of Aug. 23.
Magufuli said he hoped the IPOs would bring more transparency and offer the public a share of the mining industry's profits.
Major mining companies confirmed they were in talks with the Tanzanian government on the new mandatory listing rule.
"As investors in any country, we value policy and regulatory stability and certainty. We value the ability to have a constructive dialogue with the authorities in Tanzania with respect to the listing regulations," AngloGold Ashanti spokesman Chris Nthite said.
AngloGold Ashanti owns the Geita gold mine in northwest Tanzania.
London-listed Petra Diamonds, which holds a 75 percent stake in the Williamson diamond mine in Tanzania, with the government holding the rest, also said it was in discussions with authorities on the listing rule.
Acacia said it will be engaging with the authorities. Tanzania's biggest gold miner said last month that its three gold mines in the country would be affected by the listing requirement.
The planned mandatory listing of mining companies comes after implementation of separate regulations requiring telecoms firms list on the local stock exchange.
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