Political Risk to the Mining Industry in Tanzania
Timeline. 1998 GoT passes the Mining Act of 1998, with a royalty rate on gold of 3%.. 2001 North Mara Gold Mine preproduction, construction, and other investment.. 2002 North Mara Gold Mine opens, making Tanzania the third-largest gold producer in Africa.. 2009 Buzwagi Gold Mine opens, the second-largest gold mine in Tanzania.Construction cost is approximately $400 million, leading to an