The minerals rip-off!

March 26th, 2009

The Tanzania Citizen

A new report detailing how mining companies hide behind the secrecy of their contracts to evade tax, denying Tanzania and other mineral-rich African countries millions of dollars in revenue was unveiled yesterday.

Though the report compiled by ActionAid, and released in Nairobi, does not give the exact amount of money lost by Tanzania through the suspect contracts, it just goes to confirm the generally held view that the real beneficiaries from the exploitation of the continent’s mineral wealth are the international mining conglomerates.

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