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acacia mining has said it will slow down operations in its flagship mine in tanzania as it desperately tries to cope with an export ban on gold and copper ore.
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tanzania banned the export of gold and copper ore in march over a tax dispute and to encourage the construction of domestic smelters. the east african country's government also introduced laws in july that, among other things, increased taxes on mineral exports, gave the state a higher stake in some mining operations and raised export royalties.
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tanzania's gross domestic product (gdp) grew by 4.9% in 2000 compared with 4.7% in 1999 and 4% in 1998. after growing by 9.1% in 1999 and 27.4% in 1998, the value of output in the mining sector grew by 13.9% in 2000. the value of output in the mining sector nearly doubled from 1996 to 2000 owing to substantial increases in diamond and gold production.
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