DaMina Advisors NOTE: Tanzania preps mine nationalization with new radical mines minister

Tanzania preps mine nationalization with new radical mines minister

After two years of unsuccessful wrangling with foreign mining companies, Tanzania is finally moving towards a nationalization of the country’s beleaguered mining sector. The 8 January appointment of firebrand 40-year old Mining Minster Dotto Biteko likely signals President John Magufuli’s growing determination to proceed with his original nationalization plans after moderate mining ministers failed to reach an agreement with foreign miners. In a signal of further ideological hardening the country is also opening an embassy in Havana Cuba. (Note Attached)

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