{"id":6043,"date":"2011-12-13T00:11:09","date_gmt":"2011-12-12T22:11:09","guid":{"rendered":"http:\/\/www.myza.co.za\/12\/abg-to-raise-royalty-on-tanzanian-gold\/"},"modified":"2011-12-13T00:11:09","modified_gmt":"2011-12-12T22:11:09","slug":"abg-to-raise-royalty-on-tanzanian-gold","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/abg-to-raise-royalty-on-tanzanian-gold\/","title":{"rendered":"ABG to raise royalty on Tanzanian gold"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Govt says miner to pay 4 pct royalty vs 3 pct<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* New royalty calculation agreed on gold exports<\/p>\n<p><span><\/span><\/p>\n<p>* ABG owns four gold-producing mines in Tanzania<\/p>\n<p><span><\/span><\/p>\n<p>By Fumbuka Ng&#8217;wanakilala<\/p>\n<p><span><\/span><\/p>\n<p>DAR ES SALAAM, Dec 12 (Reuters) &#8211; African Barrick Gold<br \/>\nPlc (ABG) has agreed with the Tanzanian government to<br \/>\nraise the royalty rate it pays on gold exports, the country&#8217;s<br \/>\nminerals ministry said on Monday.<\/p>\n<p><span><\/span><\/p>\n<p>ABG, which has four mines in Africa&#8217;s fourth-largest gold<br \/>\nproducing country, agreed to an increase in royalties to 4<br \/>\npercent from 3 percent and also agreed to pay the royalty based<br \/>\non a new revenue formula.<\/p>\n<p><span><\/span><\/p>\n<p>The formula takes into account the gross sale value of gold<br \/>\nsent abroad instead of its net value at point of export.<\/p>\n<p><span><\/span><\/p>\n<p>The minerals ministry announced the deal in newspaper<br \/>\nadvertisements, which also said talks were proceeding with<br \/>\nAnglogold Ashanti Ltd, which owns the Geita gold mine,<br \/>\nand Resolute Tanzania Ltd, which owns the Golden Pride mine,<br \/>\nwith a view to those two companies also paying the new royalty<br \/>\nrate.<\/p>\n<p><span><\/span><\/p>\n<p>A mining official familiar with the talks, however, told<br \/>\nReuters that the government statement was premature and that<br \/>\nseveral details of the deal were yet to be agreed.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Govt says miner to pay 4 pct royalty vs 3 pct * New royalty calculation agreed on gold exports * ABG owns four gold-producing mines in Tanzania By Fumbuka Ng&#8217;wanakilala DAR ES SALAAM, Dec 12 (Reuters) &#8211; African Barrick Gold Plc (ABG) has agreed with the Tanzanian government to raise the royalty rate it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6043","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6043"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6043\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}