Tanzania seeks to increase mining revenue after it signed new agreements with four firms.
The four firms, Faru Graphite Corporation, Petra Diamonds Ltd (PDL), Nyati Mineral Sands Ltd and Sotta Mining Corporation, are now expected to invest in the mining sector and execute major projects anticipated to further develop sector as the government eyes an annual injection of $ 1.2 billion in taxes and royalties. The signing of the new rights, witnessed by President Samia Suluhu at the Julius Nyerere International Convention Centre (JNICC) in Dar es Salaam, also saw the four firms issued with trading licences.
