(Recasts with Strandline, Black Rock agreements)
DAR ES SALAAM, Dec 13 (Reuters) - Australia's Strandline
Resources, Black Rock Mining and Orecorp
on Monday signed framework agreements with the
government of Tanzania, a step towards the development of their
mineral sands and graphite mining projects.
Details of the agreements were not immediately available.
Tanzania's new government, under President Samia Suluhu
Hassan, has pledged to grow the mining sector. Relations with
mining companies have been improving since a January 2020 deal
with Barrick Gold ended a long-running tax dispute.
The signing took place at a ceremony in Dar Es Salaam, where
earlier Petra Diamonds CEO Richard Duffy said the
company would give the government a 16% free carried interest in
its Tanzanian subsidiary Williamson Diamonds Limited.
The move, expected to be included in a framework agreement
to be signed later on Monday, will bring Petra into line with
Tanzania's mining legislation which sees the government granted
a 16% free carried interest in all major mines in the country.
Williamson is Tanzania's only major diamond mine.
Petra Diamonds and the government of Tanzania will each give
up a proportionate amount of their current stakes to grant the
16% free carried interest, which is given to the state without
any attached financial obligation.
Petra's stake will thus reduce from 75% to 63%, with
Tanzania's stake increasing from 25% to 37%, Duffy said.
President Hassan was set to speak at the ceremony later on
Monday.
(Reporting by Nuzulack Dausen in Dar Es Salaam, Writing by
Helen Reid; editing by David Evans and Louise Heavens)
Petra Diamonds (PDL)
