Ethiopia, one of the world’s largest producers of tantalum is considering revising the country’s mining code in 2012 and has suspended giving out new mining licenses until a new legal regime is instituted. The country’s mining sector is currently governed by several laws: The Mining Proclamation 52 (1993), Mining Income Tax Proclamation 53 (1993), Mining Operations Regulation 182 (1994), Proclamation 22 (1996), Proclamation 23 (1996), and the Investment Proclamation (1996). The new 2012 mining sector legal revisions will likely increase the current 2% government equity interest held by the state-owned Ethiopian Mineral Resources Development Corporation (EMRDC) in mining projects to 5% or even higher. The 35% income tax levy on all mining operations is likely to be maintained. Ethiopia’s mining royalties are currently 5% on precious metals and 3% on other minerals. Ethiopia may also consider a new set aside for ‘indigenous’ equity holders much like Zimbabwe’s or South Africa’s Black Economic Empowerment rules. Over the past year several African mineral producing countries have moved to toughen mining laws. Ghana, South Africa, Tanzania, Zimbabwe, Namibia, Mozambique, Uganda and Gabon have all revised their mining codes or fiscal regimes over the past year. Currently, Zambia is looking to increase the government’s equity stake in mining deals.