SOURCE: The Bedford Report

The Bedford Report

November 15, 2011 08:16 ET

Restructuring of Tanzania's Mining Sector May Crimp Margins for Tanzanian Royalty and Great Basin Gold

The Bedford Report Provides Equity Research on Tanzanian Royalty Exploration & Great Basin Gold

NEW YORK, NY--(Marketwire - Nov 15, 2011) - Tanzania has become a mining hotbed in recent years. Gold exports from Tanzania climbed to $1.7 billion in the year through June from $1.5 billion, a year earlier, the central bank said in a report recently. Recent reports that the Tanzanian government seeks to restructure the mining sector has taken some wind out of the industry's sail. Tanzania has already announced plans to raise royalty payments on exports of gold by the end of this year. The Bedford Report examines investing opportunities in the precious metals sector and provides stock research on Tanzanian Royalty Exploration Corporation (NYSE Amex: TRX) (TSX: TNX) and Great Basin Gold, Ltd. (NYSE Amex: GBG) (TSX: GBG). Access to the full company reports can be found at:

Bloomberg recently reported that the Tanzanian government may abolish a tax refund for mining companies as a way to generate more revenue from the industry. Tax policy in the country gives a refund on fuel used to generate electricity to power mines. Ally Samaje, acting commissioner of minerals, said the government plans to begin talks with companies about halting the practice.

The Tanzania Chamber of Minerals and Energy (TCME) says that Tanzania's mining industry consumes about 3.57 million gallons of fuel per month, while gold mining companies estimate gasoline accounts for 30 percent of their operating costs.

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Tanzanian Royalty Exploration Corporation is a mineral resource company with exploration stage properties. The Company's general area of interest has been in the exploration of gold properties, with a focus on exploring for gold properties in Tanzania. Last month the company signed a joint venture agreement with the Tanzanian government to develop a $280 million gold mine in the east African country.

Great Basin Gold Ltd. (Great Basin) is a mining company engaged in the acquisition, exploration and development of precious metal deposits. The company hold interests in early stage mineral prospects known as the Tsetsera Property in Mozambique and properties in Tanzania and Iturup.

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