July 3, 2017 / 5:58 PM / a month ago

Tanzania passes bills on renegotiation of mining, gas contracts

DAR ES SALAAM, July 3 (Reuters) - Tanzania's parliament passed two laws late on Monday allowing the government to force mining and energy companies to renegotiate their contracts, despite pleas from the mining association for more time.

"Parliament has passed two legislation - the Natural Wealth and Resources (Permanent Sovereignty) and the Natural Wealth and Resources Contracts (Review and Re-negotiation of Unconscionable Terms) bills," the state-run Tanzania Information Services said in a statement.

The government had submitted the bills to parliament on Thursday. (Reporting by Fumbuka Ng'wanakilala; writing by Katharine Houreld)

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