There is next to no chance of us getting the news we hope for by Easter. The final position (Chairman, as I understand) on the Mining Commission is yet to be filled, although an appointment is expected “imminently”.
The Tanzanian government has shown itself to be both incompetent and disorganised. I support JPM’s agenda but I seriously question his methods and the ability of the people around to get the job done.
The best news we could hope for out of Tanzania this week is the resolution of the Acacia/Barrick or TanzaniteOne matters. These are two grey clouds hanging over the Tanzanian mining sector right now. Until there is resolution on these matters the perceived sovereign risk in Tanzania will continue to cripple the sector.
The Tanz parliament resumes beginning of April. The Minister for Minerals will return and just maybe we will start to see the wheels turning again. Don’t hold your breathe for any news for the remainder of this month though.
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