Photo via novonews.lv

Faith commissioned study says Tanzania is losing out on gold boom

A study commissioned by religious leaders, lawmakers and civil society organizations says that Tanzania lost an estimated US$400 million in the last five years in unpaid royalties and taxes by companies plying their trade in the country's gold industry, reports Ecumenical News International. The study, entitled "A Golden Opportunity - How Tanzania is failing to benefit from gold mining", was launched on 4 March. Participants at the launch said Tanzanians were not benefiting from gold reserves because tax laws favour multinational mining companies.

New iPad POLL! VOTE NOW! Will you buy new iPad?

[03/13/2008]

Print Version