Re: Tanzania: Disturbing Figures: Just a reminder....
Last year, for instance, the Minister for Energy and Minerals, William Ngeleja, told the parliament that during the period between 2001 and 2006, Tanzania produced gold worth $2.6 billion (Tshs3.38 trillion), but the government earned only $78 million.
In simple arithmetic, this is just 3 percent of the total revenues generated from thousands of tonnes of gold produced in the Lake Victoria gold belt. It also shows that the government earned an average of $13 million annually during that period from the multibillion industry whose real investments currently is valued at $2.5 billion.
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Everytime i see these numbers i am still astonished and i still cannot believe how anybody in there right mind could condone this wholesale looting of our natural resources.
Companies like Barrick probably give out more than 13 million just in bonuses to their employees each year.
It's sad, really sad.