Australian miners halt trading on Tanzanian law changes

July 5, 2017

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A slew of Australian mining companies have suspended share trading on the ASX amid legislative changes in the Tanzanian mining sector.

The Tanzanian Parliament earlier this week passed two laws allowing the government to force mining companies to renegotiate contracts, with a third Bill expected to passed later this week. The Bills cover natural resource contracts, sovereignty and would amend existing laws to allow the government to renegotiate or dissolve contracts with multinational companies.

Category: General