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Article

8 Dec 2015

Author:
Daily News (Tanzania)

Tanzania among world's poorest despite its Extractive Industries Transparency Initiative report revealing abundant natural resources

"Dar keen on transparency in mining, gas deals"

According to reports published by the Tanzania Extractive Industries Transparency Initiative (TEITI) revenues earned included tax, levies, royalties and other charges...The government is committed to the principles and criteria of the Extractive Industries Transparency Initiative (EITI), a global standard for revenue transparency and a global coalition of governments, companies and civil society organisations...

TEITI reports show although Tanzania is a resource-rich country with plenty of minerals and gas deposits it was still among the world’s poorest. Tanzania posseses 12.6 tonnes of tanzanite, gold (2,222 tonnes), diamond (50.9 million carats), copper (13.65 million tonnes), nickel (40 million tonnes), uranium (35.9 million pounds), coal (1.5 billion tonnes) and over 55 trillion cubic feet (tcf) of natural gas.