Dar es Salaam — Tanzania’s parliament enacted the third law this week to overhaul its natural resources industries, ignoring a lobby group’s warning that the legislation will inhibit investment. The Written Laws Act was passed by MPs late on Tuesday, according to a statement posted on the chief government spokesman’s Twitter account. Its provisions include granting the government stakes of at least 16% in mining companies operating in the East African country, with the option to acquire up to 50%. "The nature, scale and manner of the recent changes have spooked the mining community and poses questions around the attractiveness of Tanzania’s business environment," said Rand Merchant Bank analyst Ronak Gopaldas. "With the relationship between the mining community and government already strained, the latest bills have fuelled uncertainty and added to a growing list of investor concerns." Tanzanian President John Magufuli is overhauling the country’s natural resources industry to ensure...

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