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African nations try to set uniform minerals royalty charges

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Published: Friday, 13 June 2014

A proposal from the Southern and Eastern African Mineral Centre agency aims to prevent unfair competition for resources and improve returns to local economies, but it could hamper foreign companies to invest in the African industrial minerals sector, which includes potash, rare earths, ilmenite and vermiculite.

By Allan Bario

Members of the Southern and Eastern African Mineral Centre (SEAMIC) agency, have agreed to set uniform royalty levies on their minerals, authorities confirmed to IM.

During a meeting in Nairobi, Kenya, last week, the countries of Uganda, Kenya, Tanzania, Mozambique, Ethiopia, Angola and Sudan accepted a proposal which...

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