Shanta to review cost base in light of new legislation, higher royalties
East Africa-focused Shanta Gold is undertaking a business review of its operational and cost base in Tanzania, where it operates the New Luika mine, following the introduction of new legislation and higher royalty rates. The Tanzanian Parliament earlier this month enacted the Natural Wealth and Resources Bill 2017 and the Natural Wealth and Resources Contracts Bill 2017, allowing the government to force mining companies to renegotiate contracts.