Tanzania's demand for a greater share of revenue from mining operations in the country is causing alarm throughout the industry but it doesn't bother Tanzanian Royalty Exploration Corp. and its executive chairman, James E. Sinclair.
In a statement last week Sinclair said: "The proposed changes appear to be an action to gain a fair share of the financial rewards for the people and nation of Tanzania while still providing incentives to the investors. The proposed legislation is not nationalization."
Sinclair noted that his company already has granted a 45-percent interest to Tanzania's state mining company.
Tanzania Royalty Exploration's statement is posted at its internet site here:
http://www.tanzanianroyalty.com/wp-content/up...70705TNXNR.p...
