The recent introduction of an investor friendly mineral policy and a competitive fiscal regime has attracted several world class investors into Tanzania. Tanzania now attracts the highest mineral exploration expenditure in Africa. Prior to this, there was only one international player in the sector (De Beers) which owned a diamond mine jointly with the government. We have been associated with the diamond mining company for many years and, in the recent past, our Tax practice has been advising several of the new investors in the sector during the exploration and development stages of their projects. These include: Barrick Gold, Ashanti Goldfields, Anglogold and Resolute. A number of these investors have now moved into the production phase and our professional support for them has continued. We have a trained and experienced team of auditors and tax consultants dedicated to the mining sector.
Over the past five years we have been providing financial and tax advice to leading investors on a large Gas to Electricity project, which will involve the construction of a gas pipeline from a gas reserve on the East coast of Tanzania to Dar es Salaam. It will transport gas to power plants and other users in Dar es Salaam. We are also the market leaders in the provision of professional services to oil marketing companies in the country.
