You are a true patriot!
Kampuni yake Tanzania:
[B]investors@TanzanianRoyaltyExploration.com[/B]
Kampuni Mama yake, Jim Sinclair Mineset:
[B]information@jsmineset.com[/b]
THISDAY REPORTER
Dar es Salaam
THE chief executive officer of a foreign company with vast mining interests in Tanzania, James Sinclair, has sought to assure international investors that President Jakaya Kikwete will not change existing fiscal policies in the sector despite a longstanding public outcry that the nation is not benefiting enough from mining receipts.
Sinclair, chairman and CEO of the Canadian-based Tanzanian Royalty Exploration Corporation, also states that he has already had access to the recommendations of the final report of the mining sector review committee chaired by retired judge Mark Bomani - just days after the report was actually submitted to president Kikwete himself.
Making the statements via his companys website http:
www.tanrange.com www.tanrange.com), Sinclair furthermore declared that he was not worried about the future.
Bomani and other members of the committee presented the final report to president Kikwete at State House in Dar es Salaam on May 24 this year, and six days later (May 30) came Sinclairs website statement where he says in black and white:
Ive had the privilege of reviewing the (Bomani) committees recommendations - along with comments from the (Tanzania) Chamber of Mines - and have no serious issues with them. Whats important to know, however, is that the man who will make the final decision on the recommendations is the president - not the committee.
He continues: President Kikwete is an extremely knowledgeable and capable man who will do nothing to disturb the balanced fiscal policies that have produced enormous growth in Tanzanias economic base, most of it fuelled by international investors.
Sinclairs latest statement comes on the back of reports that the fourth phase government under Kikwete is gearing up towards sweeping reforms intended to ensure a win-win situation for both Tanzania as a nation and private companies operating mining projects in the country.
The Bomani committee was formed by the president himself late last year with the mandate to review all contracts currently pertaining to the sector, and advise the government accordingly. This is also interestingly stressed in Sinclairs statement, as follows:
President Jakaya Kikwete of Tanzania formed a committee last year to review the countrys Mining Law. This body has a name that describes its mission and limitations: The Presidential Committee to Review and Advise Government on Management of the Mineral Sector.
The Tanzanian Royalty Exploration boss also said he was confident the Bomani committees recommendations were focused on improving the conditions and privileges of (mining) exploration companies.
He further claims on the companys website that president Kikwete has been a close friend of his for more than 20 years now.
Tanzanian Royalty Exploration is a publicly-traded financial gold company whose stated business strategy is to acquire royalty interests in gold production from its core assets in the Lake Victoria greenstone belt (LVGB) of Tanzania, where a reported 40 million ounces of gold have been discovered since the mid-1990s.
Tanzanian Royalty ranks among the largest landholders in the LVGB - one of the most prolific goldfields in the world, the company says on its website, listing several multinational mining firms it has negotiated royalty agreements with in Tanzania, including Barrick Gold, AngloGold-Ashanti, and Northern Mining Explorations.
It is reported that by mid-2005, Tanzanian Royalty Exploration held a total of 138 prospecting licences in the Lake Victoria goldfields.
In February this year, Joseph Kahama was appointed a director of Tanzanian Royalty Exploration Corporation, after serving as senior vice-president of the corporation since July 2007.
Kahama also served as president and director of the companys wholly-owned subsidiary, Tanzania American International Development Corporation 2000 Limited (Tanzam 2000), since 1997. In his capacity as president of Tanzam 2000, Kahama was responsible for corporate administration and also for maintaining good relations with government, vendors, and the companys various business partners in Tanzania.