Barrick Gold (NYSE:ABX), AngloGold Ashanti (NYSE:AU) and Changing Rules in Tanzania

A couple of weeks ago the Tanzanian parliament passed a new mining law which will alter the gold mining landscape for Barrick Gold (NYSE:ABX) and AngloGold Ashanti (NYSE:AU) in the country.

Some of the major changes included in the Mining Act 2010 law will be that royalties on minerals and gold will rise from three to four percent.

The government of Tanzania will also have a stake in the future projects of miners, and all mining companies now must be listed on the Dar es Salaam Stock Exchange.

Some in the country are calling for a stronger national ownership of their natural resources.