magufuli liberating Tanzania from corporate thugs

[Georgesoros]

Magufuli needs to be realistic otherwise lotsa people will be unemployed. Yes there  is corruption but deal with it realistically not being paranoid about it.

[RV Pundit]

Better yet build institutions - no company want to invest million of dollars - and all that investment be a whims of the president. TZ will see net outflows of FDI. Then he will try to block the money leaving. Kenya should be ready to welcome investors like Acacia.

Magufuli needs to be realistic otherwise lotsa people will be unemployed. Yes there  is corruption but deal with it realistically not being paranoid about it.

[RVtitem]

I think Acacia used to ship containers filled with soil/rock. These materials shipped out contained not only gold but also many other minerals. Acacia used to under declare or not report the other minerals apart from gold.

Now I do not see any reason why Tanzania isn't justified to penalize such a company. The law should apply in all cases regardless of the magnitude of penalty or the color of people involved.

[Nefertiti]

I agree a stable legal system is well established as key building block of the economy - especially for FDI. A government must balance many factors - not just literal 'justice' like RVtitem is to imply. A big enough FDI can balance out taxes in collateral benefits - jobs, support industry, infrastructure, etc. Magufuli needs to listen to his advisors. He seems more like Miguna right now.

[vooke]

Is all the gold in TZ worth 190 billion USD?  I understand the need to protect TZ from exploitation.  But he should be pragmatic about what he can get from these guys.

If it helps, the fine is $40B, $150B are penalties.

What's shocking is the basis; TZ lab retested the mines and concluded the deposits or concentrate are way too high and were understated. But shouldn't this be a clear cut issue if appointing an independent lab to confirm them?

[RVtitem]

http://www.theeastafrican.co.ke/news/Tanzania-Barrick-gold-start-discussions-over-tax/2558-4039664-srwuis/index.html

[RVtitem]

https://mobile.nytimes.com/reuters/2017/10/19/business/19reuters-barrick-gold-tanzania.html?referer=https://www.google.com/search?q=barrrick+tanzania

[RVtitem]