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Tanzania is keen on passing legislation that will force all mining, oil and gas companies to renegotiate their contracts.
The Government wants the country’s natural resources to bring more benefits to its people, though the move has been condemned by private companies who say they already pay their fair share of tax.
The government accuses the mining companies of stealing $48 billion in tax.
Mining giant Acacia says it has been unfairly accused of tax evasion, and that the Government is over-estimating its gold production by more than twelve fold.
The companies warn of major repercussions if the legislation is passed, including massive loss of jobs for Tanzanian miners.
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