Tanzania’s first uranium mine under pressure
After the announcement of the forthcoming commissioning of the first uranium mine in Tanzania, the country’s officials claim the start of the project is not clear so far because of pending issues yet to be agreed on with the investor.
"We have already submitted our proposals. The offer is on the table, to take it or leave it," said the Deputy Minister for Energy and Minerals, Stephen Maselle, in Parliament.
Maselle further said the new investor owed the Tanzania’s government millions of dollars in capital gains tax from the sale of the Mkuju River uranium project by Mantra Resources Pty Ltd of Australia to a Russian state-owned company, ARMZ Uranium Holding (ARMZ).
Tanzania claims almost $206 million in taxes from ARMZ, which gained control of the Mkuju River project in June 2011 after the acquisition of Mantra Resources of Australia, who was the previous owner of the project.
The government, through the Tanzania Revenue Authority (TRA), filed a case in court to press ARMZ for immediate payment of the capital gains tax.
ARMZ disputed the tax claim and the matter is now awaiting a court ruling.