OTR, AngloGold strengthen partnership
GEITA: TREASURY Registrar Nehemiah Mchechu has held discussions with representatives of AngloGold Ashanti on strengthening the company’s long-term relationship with the government and advancing cooperation in the country.
The discussions took place on Tuesday when a delegation from AngloGold Ashanti, through its Tanzanian subsidiary, Geita Gold Mining Limited (GGML), paid a courtesy call on Mr Mchechu at the Office of the Treasury Registrar (OTR).
The delegation briefed the Treasury Registrar on the company’s business developments and interests in Tanzania.
It was led by AngloGold Ashanti Chief Legal Officer, Ms Lizelle Marwick and included the company’s Senior Vice-President for Sustainability, Ambassador Baso Sangqu, as well as GGML Vice-President for Sustainability and Stakeholder Engagement, Mr Simon Shayo.
Mr Mchechu said OTR, as the government’s shareholder representative, approaches its relationship with companies from the perspective of being a fellow shareholder rather than an opposing party.
“Whatever keeps you away also keeps us away and whatever brings results brings results for both of us,” he said, underscoring the importance of cooperation in achieving sustainable business outcomes.
He said OTR works closely with relevant government authorities, with institutions reading from the same page on key issues to ensure consistency and stability for investors.
Mr Mchechu said the office was committed to building a longterm relationship with AngloGold Ashanti based on mutual understanding, sound corporate governance and a shared interest in ensuring the business’s success.
He also stressed the importance of strengthening corporate governance and ensuring that boards have capable members with a strong understanding of business, enterprise and strategic direction, particularly in companies that contribute taxes and dividends to the government.
For her part, Ms Marwick said AngloGold Ashanti values its relationships with host governments and appreciates its long-standing engagement with the Tanzanian government.
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She said the company was committed to building a genuine partnership in which both sides contribute their strengths and perspectives for mutual benefit and the wider interests of the country.
Ms Marwick said AngloGold Ashanti was ready to support capacity building for government-appointed directors through governance and induction programmes covering fiduciary responsibilities, board processes and financial literacy.
She also proposed technical exposure visits to Geita Gold Mine to enable government-appointed directors to gain a better understanding of mining operations, including the technical aspects of resources and reserves.
Ms Marwick described Geita Gold Mine as a flagship asset and said AngloGold Ashanti had remained committed to Tanzania despite legislative changes and challenges associated with the Covid-19 pandemic.
She said the company’s relationship with the government would provide an important stepping stone for its other exploration titles in Tanzania, noting that AngloGold Ashanti could expand more easily in areas where it already has operations, infrastructure and a strong working relationship with the government.
