First Mining Drc-Zambia March -April 2020 digital edition First Mining Drc-Zambia March - April 2020 digital | Page 28

FEATURE • • • • • • • Supply of mining services such as drilling, airborne geophysical surveys; or refining. This also includes supply and/or hiring of equipment for large and small scale miners as well as contract mining. Training in gemstone cutting and polishing; Training in jewelry designing & manufacturing; Training in gemology; Training in diamond grading; Establishing laboratory for testing and certification of gemstones; Gemstone treatment; Legislation The most recent amendments to Tanzania’s mining sector include four key regulatory changes enacted in February 2019, all relating to the country’s Local Content Regulations. The Local Content Regulations follow the amendments of the Mining Act, 2010 through the Written Laws (Miscellaneous Amendments) Act, 2017, which introduced the local content requirements. Local content regulations now require that at least 20% of a mining company operating in Tanzania must be owned by Tanzanian citizens, down from 51% previously (as stipulated by the Mining Local Content Regulations introduced in 2018). Other requirements for an entity to qualify as an indigenous Tanzanian company remain the same (the company must be incorporated in Tanzania, Tanzanian citizens must hold at least 80% of the company’s executive and senior management positions and 100% of its non-managerial and other positions). With regards to the provision of financial services, a contractor, subcontractor, licensee or other allied entity is still required to retain only the services of a Tanzanian financial institution or organisation. Further alterations to the Local Content Regulations have reduced the stringent financial services requirements for mining companies operating in the country. from innovations to discoveries the most ad the most advanced airborne EM technology for your exploration success MobileMT www.expertgeophysics.com 26 [email protected] www.fmdrc-Zambia.com