The Mining (State Participation) Regulations of 2022
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The Mining Act R.E. 2019 (the Act) and the Mining (Local Content) Regulations 2018 (the Regulations) provide for minimum local content shareholding requirements for entities operating in and servicing the mining sector. In this article, we set out the varying positions under each, the Act and the Regulations and for ease of understanding, we have provided a flowchart which identifies the three options for compliance in relation to shareholding for service providers.
Mining companies are required to comply with the requirement to give priority to local companies according to the Act.
A local company is defined as a company or subsidiary company incorporated under the Companies Act R.E 2002, which is either:
Mining companies are required to comply with the requirement to give priority to indigenous Tanzanian companies according to the Regulations.
An indigenous Tanzanian company is defined as a company incorporated under the Companies Act R.E 2002 that has: