Boston, MA -- (SBWIRE) -- 09/30/2014 -- The Tanzanian mining industry is governed by the Ministry of Energy and Minerals and Geological Survey of Tanzania. The Mining Act 2010 is the main law regulating the prospecting of minerals, mining, processing and dealing in minerals, the granting, renewal and termination of mineral rights, payment of royalties, fees and other charges and any other relevant matters.

Report Highlights:

- The Ministry of Energy and Minerals (MEM) was formed in order to facilitate the development of the energy and mineral sectors.

- The Geological Survey of Tanzania (GST) is a government executive agency operating under the MEM, which is responsible for the acquisition and storage of scientific data and information used in the mineral resource sector, as well as promoting mineral exploration and mining in the country.

- The Mining Act 2010 provides substantial amendments towards the law, relating to the prospecting of minerals, mining, processing and dealing in minerals, the granting, renewal and termination of mineral rights, payment of royalty fees and other charges, and any other relevant matters.

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Report Scope:

The report outlines Tanzania's governing bodies, governing laws, mining rights and key fiscal terms, which include royalties, Corporate Income Tax, Capital Gain Tax, Depreciation, Loss Carry Forward, Withholding Taxes and Value Added Tax.

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