President Magufuli has just witnessed the signing of an agreement between Tanzania and the global mining giant Barrick at the State House in Dar es Salaam that grants the government ownership of 16 per cent of shares from a newly established Twiga Company.
Speaking after representatives from both sides sealed the deal at State House in Dar es Salaam on Friday, January 24, 2020, President Magufuli said new page has been opened and its was an “end of the game.”
After concluding the deal, the Head of State directed officials to search for a competitive buyer of gold and copper concentrates stored in 277 containers which were held at the Dar es Salaam port and income should be given to Twiga, the company owned jointly between Tanzania and Barrick.
He reminded the company to ensure that it observes environmental degradation and serve the surrounding communities including provision of social services.
“This is a big win…I would like to take this opportunity to tell Barrick and any other investors that Tanzania is the best place to invest,” the President added.
Earlier, the Minister of Foreign Affairs and East African Cooperation, Prof Palamagamba Kabudi told the public of hurdles he confronted before the deal was concluded.
Prof Kabudi who is a lawyer by profession was highly involved in the negotiations between Tanzania and Barrick.
