GlobeNewswire

Tanzanian Royalty Exploration Corporation: 2018 - Good Political and Economic Climate for Investing in Tanzania

Dela

TORONTO, March 13, 2018 (GLOBE NEWSWIRE) -- Tanzanian Royalty Exploration Corporation (hereinafter, "The Company") (TSX:TNX) (NYSE MKT:TRX) is pleased to take this opportunity to provide information regarding the investment climate in the mining industry in the United Republic of Tanzania.

"The political and economic climate of Tanzania is exceptionally good for investors in Tanzanian Royalty Exploration Corporation," stated James E. Sinclair, TRX Executive Chairman. "The climate is favourable for responsible companies who have partnered in mining endeavours with Tanzania. Our Company partnered with Tanzania through our Joint Venture Agreement with STAMICO, the mining agency for the government, a decade ago. The Company entered into the Agreement long before sharing in mining operation profits was required by Tanzania. We were ahead of the curve. We more than complied long before laws were enacted in Tanzania regarding mining profits," said Sinclair.

The background for The Company's successes where other mining companies are struggling and failing is due to a number of economic and political changes. The new government of Tanzania, as of November 2015 elected President John Magufuli who has a staunch anti-corruption agenda. Honourable President Magufuli is receiving worldwide recognition for his advancements in bringing Tanzania into 21st Century business and industry, by establishing laws and regulatory standards for Tanzania to benefit from commercial activity within its borders. New laws and regulations benefit the nation and its people, but also benefit industry operating within its borders. Written laws are preferable to common and changeable understandings. Understandings can change from administration to administration, but written laws are not as flexible. President Magufuli is finally disposing of Colonialism in addition to eliminating corruption. Magufuli is a member of the CCM Party which has ruled Tanzania since Julius Nyerere. Thus far, in the Magufuli administration, more than 12,000 employees have been removed for cause, and these dismissals include the heads of Ministries.

"President Magufuli's achievements are producing miracles in Tanzania, not only with new laws and regulations which protect government and industry, but also by Magufuli's active involvement in the development of industry. Tanzania is welcoming international investment as President Magufuli stamps out corruption and dishonesty from the system," stated James Sinclair, TRX Acting Chief Executive Officer. 

In the two years President Magufuli has been in office, the investment landscape has changed dramatically in Tanzania. Magufuli chairs the Tanzanian National Business Council (TNBC) scheduled to meet Monday. The Council is a demonstration of the Magufuli Administration's commitment to engage with private industry and create a framework to attract local and foreign investments into a stable business environment. "President Magufuli will be viewed with international interest as he transforms the nation's economy," Sinclair, said. Many positive and transformative initiatives have been put into place by the Magufuli administration. Initiatives and new laws have been promulgated to stabilize and regulate matters from the mining industry to protecting Tanzania from illegal fishing. Of significant note, last week President Magufuli was awarded the Mandela Peace Prize. The changes in Tanzania have been achieved by Magufuli, and he has done so in a manner which protects and preserves not only life, but the quality of life as indicated by this prestigious award. "Magufuli has insisted on the protection of local industrialists. It was part of his stated agenda in 2015 and he is putting his initiatives into practice in a manner which is fair to private industry and balances the protections of the economic interests of Tanzania. The movement of Tanzania into the 21st Century international community has been a metamorphosis which will benefit the nation and its investors," Sinclair continued.

What is occurring in Tanzania is similar to what is being seen in other mineral rich, economically underdeveloped countries. A few examples of the trend toward equitable host nation treatment can be seen in Guatemala, Indonesia, Mexico, numerous countries in South America, Africa, Greece and Turkey.

Tanzanian Royalty is, and has been, ahead of the curve with respect to equitable arrangement with its host nation during the past 20 years, and specifically with the Buckreef Project Joint Venture Agreement in the past decade. The Joint Venture Agreement can be viewed on EDGAR or SEDAR. Tanzania now requires new mining industry contracts to be in the form of the Buckreef agreement. The Company's agreement with Tanzania is the exact model currently required. This is critical for investors to know in order to understand the relationship between TRX and Tanzania. The Buckreef Project Joint Venture Agreement provides for profit sharing which exceeds current minimum statutory requirements of Tanzania, i.e. profit sharing TRX (55%) and Stamico, the state owned mining company (45%). This agreement existed before the minimum required profit sharing laws were enacted, and this good relationship with Tanzania precludes government intervention in our mining operations due to a long standing, existing fair and equitable agreement.  The TRX agreement with the government is unique in that Tanzania not only owns 45% of the profits, but also 45% of the entire asset. The Buckreef Project is robust enough to easily support the 55%/45% arrangement with Tanzania. New laws adopted to secure profits for the host nation make Tanzania a nation of laws and regulations which maintain and support a stable and attractive economic environment for the mining industry.

"The companies who took advantage of Tanzania in the past are the companies that are struggling now. The companies that used and abused their mining privileges in Tanzania are the ones in difficulty. Tanzanian Royalty is not among them. We had greater foresight and acted with fairness and integrity before it was the law, and now we will reap the benefits of exceptionally good relations with the government in our mining operations. We are pleased to have the government of Tanzania as our partner. TRX could be the governmental/corporate and industrial model for all new contractual issues in Tanzania," Duval concluded.

For further information, please refer to the Company website at:
www.TanzanianRoyalty.com

Respectfully submitted,

James E. Sinclair, Executive Chairman
Tanzanian Royalty Exploration Corporation

CONNECTICUT OFFICE:                                                                                     
PO Box 577                                                                                                            
Sherman, CT                                                                                                          
U.S.A.   06784                                                                                                         
Fax: (860) 799-0350                                                                                               
investors@TanzanianRoyalty.com                                                                    

TORONTO OFFICE :
82 Richmond Street East
Suite 208
Toronto, Ontario M5C 1P1   
Toll Free (844) 364-1830
 www.TanzanianRoyaltyExploration.com          




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Tanzanian Royalty Exploration Corporation via Globenewswire

Om

GlobeNewswire



Följ GlobeNewswire

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från GlobeNewswire

Arcoma AB: Arcoma presenterar på Redeye Life Science Day den 21:a november16.11.2018 12:53Pressmeddelande

16 November Den 21 november presenterar Jesper Söderqvist, VD på Arcoma, den senaste utvecklingen i Arcoma på Haymarket by Scandic i Stockholm. Presentationen "Arcoma, ett tillväxtbolag i en växande marknad" hålls klockan 13:00 och kan följas i livesändning på redeye.se/live/lsday-2018. Presentationen kommer även i efterhand att finnas tillgänglig på www.redeye.se/live/ls-day-2018 samt på Bolagets sida i Redeye Universe (redeye.se/company/Arcoma) Om Arcoma Arcoma, med lång erfarenhet av branschen, är en ledande leverantör av integrerade digitala röntgensystem med hög kvalitet och avancerad teknik. Arcomas produkter erbjuder den senaste digitala bildtekniken kombinerat med tekniskt avancerade rörliga positioneringssystem, vilket tillsammans med ergonomisk skandinavisk design, erbjuder kunden kompletta, konfigurerbara och funktionella digitala röntgensystem. Bolagets produkter säljs via återförsäljare samt via OEM-kunder och det finns idag över 3 500 av Arcomas röntgensystem installerade

Iconovo: kundprojekt blir framflyttat tre till sex månader8.11.2018 15:45Pressmeddelande

Fortsatt arbete med ett av Iconovos pågående kundprojekt kommer att flyttas fram tre till sex månader. Projektet avser utveckling av produkt anpassad för kund som ska svara för produktion och marknadslansering. Det aktuella arbetet var planerat att ske under fjärde kvartalet men beräknas ske under nästa år, och detta påverkar Iconovos omsättning under 2018 negativt med cirka 2 miljoner kronor. Orsaken är att kunden har beslutat att genomföra en mindre klinisk studie för att verifiera produkten innan nästa steg tas vilken omfattar investeringar i betydande mångmiljonbelopp i produktionskapacitet, baserat på Iconovos utveckling. Studien görs för kundens egna räkning och är inte villkorad av tillsynsmyndigheter. "Detta påverkar vårt resultat på kort sikt, men det faktum att kunden har beslutat att göra en betydande investering i faktisk produktion betyder att vi med stor säkerhet kan se fram emot licensintäkter under en lång tidsrymd framöver i samband med att produkten lanseras på markna

Stillfront Group AB: Inbjudan till Stillfront Groups kvartalsrapport för tredje kvartalet 20187.11.2018 14:34Pressmeddelande

PRESSMEDDELANDE 7 november 2018 Inbjudan till Stillfront Groups kvartalsrapport för tredje kvartalet 2018 Stillfront Groups kvartalsrapport för det tredje kvartalet 2018 kommer att publiceras klockan 07.00 den 22 november 2018. En webbsänd telefonkonferens kommer att hållas klockan 10.00 samma dag där Jörgen Larsson, VD och Sten Wranne, CFO, kommenterar resultatet. Presentationen och rapporten kommer efter presentationen att finnas tillgänglig på www.stillfront.com Webbsändningen nås på adressen: https://tv.streamfabriken.com/stillfront-q3-2018 För att delta via telefon, vänligen ring: SE: +46 8 566 426 63 UK: +44 20 300 898 01 US: +1 8 557 532 235 FÖR YTTERLIGARE INFORMATION, VÄNLIGEN KONTAKTA: Sofia Wretman, IR Phone: +46 708 11 64 30 sofia@stillfront.com OM STILLFRONT Stillfront är en oberoende utvecklare, förläggare och distributör av digitala spel - med visionen att bli en ledande indie-spelutvecklare och förläggare. Stillfront är verksamt genom tio näst intill självständiga dotte

Stillfront Group AB: Invitation to Stillfront Group Q3 presentation7.11.2018 14:34Pressmeddelande

Invitation to Stillfront Group Q3 presentation Stillfront Group interim report for the third quarter 2018 will be published at 07.00 CET on 22 November 2018. A presentation of the report will be held the same day at 10.00 CET via telephone conference or audiocast where Jörgen Larsson, CEO and CFO Sten Wranne are to comment on the report. The presentation can be viewed live at https://tv.streamfabriken.com/stillfront-q3-2018 To participate via phone please call: SE: +46 8 566 426 63 UK: +44 20 300 898 01 US: +1 8 557 532 235 FOR FURTHER INFORMATION, PLEASE CONTACT: Sofia Wretman, IR Phone: +46 708 11 64 30 sofia@stillfront.com ABOUT STILLFRONT Stillfront is a group of independent creators, publishers and distributors of digital games - with a vision to become the leading group of indie game creators and publishers. Stillfront operates through ten near-autonomous subsidiaries: Bytro Labs in Germany, Coldwood Interactive in Sweden, Power Challenge in the UK and Sweden, Dorado Online Games

Modus Therapeutics announces FDA Acceptance of Sevuparin IND for the treatment of sickle cell disease7.11.2018 08:30Pressmeddelande

STOCKHOLM, November 7, 2018. Karolinska Development's portfolio company Modus Therapeutics announces today that the U.S Food & Drug Administration (FDA) has approved the company's Investigational New Drug (IND) application to initiate a Phase I clinical trial with subcutaneous sevuparin for the treatment of sickle cell disease (SCD) FDA has decided to accept Modus Therapeutics' IND application of sevuparin for the treatment of SCD. Sevuparin is an innovative, proprietary modified polysaccharide drug with anti-adhesive, anti-aggregate and anti-inflammatory effects due to its multimodal mechanism of action. It has the potential to restore blood flow and prevent further microvascular obstructions in children and adults with SCD. At present, sevuparin is being evaluated as an intravenous infusion in a Phase II study in SCD patients with ongoing painful crises (also called vaso occlusive crises, VOC). In order to broaden the clinical scope and utility of sevuparin in the treatment of SCD, t

Modus Therapeutics announces FDA Acceptance of Sevuparin IND for the treatment of sickle cell disease7.11.2018 08:30Pressmeddelande

STOCKHOLM, November 7, 2018. Karolinska Development's portfolio company Modus Therapeutics announces today that the U.S Food & Drug Administration (FDA) has approved the company's Investigational New Drug (IND) application to initiate a Phase I clinical trial with subcutaneous sevuparin for the treatment of sickle cell disease (SCD) FDA has decided to accept Modus Therapeutics' IND application of sevuparin for the treatment of SCD. Sevuparin is an innovative, proprietary modified polysaccharide drug with anti-adhesive, anti-aggregate and anti-inflammatory effects due to its multimodal mechanism of action. It has the potential to restore blood flow and prevent further microvascular obstructions in children and adults with SCD. At present, sevuparin is being evaluated as an intravenous infusion in a Phase II study in SCD patients with ongoing painful crises (also called vaso occlusive crises, VOC). In order to broaden the clinical scope and utility of sevuparin in the treatment of SCD, t

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum