Investors wary as Tanzania seeks more control over mines

Nairobi

NEW laws and a crackdown on mining firms in Tanzania have slowed fresh investment in what has long been seen as one of Africa's brightest mining prospects as companies assess the consequences of government efforts to claim a bigger slice of the pie.

Takeover bids and exploration plans have been cancelled and workers laid off. The share prices of many firms listed in Australia, Britain, South Africa and Canada with interests in Tanzania have halved as the value of their investments tumble.