Tanzanian Royalty Goes 55/45 With Tanzania on Buckreef
By Kevin Michael Grace and Ted Niles
As the tide of “resource nationalism” swells throughout the world, foreign mining companies are increasing fighting rearguard battles with their host countries. Tanzanian Royalty TSX:TNX decided to employ a different strategy with its Buckreef Gold Project in Tanzania. David Duval, special advisor to President Jim Sinclair, explains, “We did a deal on it [in 2010] and allowed the government to keep 45%. I think in a sense we almost sort of nationalized ourselves by giving the government a large piece of the action.”