"Tanzania seeks to reform mining sector for citizens' benefit"

The Tanzanian government has crafted new Bills as it seeks sweeping changes in the exploitation of natural resources in the country’s mining sector. Two of the Bills are new while a third amends existing legislation as the Magufuli administration moves to ensure that Tanzania’s naturalresources are exploited to benefit the citizens.The proposed laws have come at a time when the government is negotiating with mining firms on revenue sharing. The three laws are the Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Bill, 2017; the Natural Wealth and Resources (Permanent Sovereignty) Bill, 2017; and the Written Laws (Miscellaneous Amendments) Bill, 2017.

The Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Bill 2017 is meant to empower Parliament to review all the arrangements and agreements made by the government regarding natural resources...The Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) Bill, 2017 gives powers to parliament to direct the Government to re-negotiate and rectify any term that it seen to bear questionable circumstances in the contracts. The Natural Wealth and Resources (Permanent Sovereignty) Bill, 2017 states that the People of the United Republic shall have permanent sovereignty over all natural wealth and resources and that the ownership and control (over natural wealth and resources) shall be exercised by, and through the Government on behalf of the People. [refers to Acacia)