Tanzania put more pressure on foreign mining companies on Tuesday by amending mining and tax laws to make it mandatory for the state to own at least 16 percent of mining projects, while also raising export royalties.
Parliament passed the bill unanimously, the state-run Tanzania Information Services said.
This followed two other laws passed on Monday giving the resource-rich East African nation the right to tear up and renegotiate contracts for natural resources like gas or minerals, and removing the right to international arbitration.
The bills were introduced on Thursday and rapidly passed, despite pleas for more time from an association representing mining companies.
"In any mining operations under a mining licence or a special mining licence, the government shall have not less than 16 (percent) non-dilutable free-carried interest shares in the capital of a mining company," the text of the new law says.
President John Magufuli has accused large mining companies of evading taxes, charges they deny. At a public rally on Tuesday, he said Tanzania was fighting an economic war.
"We couldn't wait to pass the laws because of the large scale theft taking place in the mining sector," he said.
The new law also raises royalties from gold, copper, silver and platinum exports to six percent from four percent. It increases the royalty on uranium exports from five percent to six percent.
The law also allows the government to reject a company's valuation if it believed the price was too low. The government would be entitled to buy the consignment of minerals at the price quoted.
"For the purposes of calculating the amount of royalties payable, the government shall be entitled to reject the valuation," the text of the new law said.
"Where the government rejects the valuation, it shall have the option to buy the minerals at the low value."
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