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Tanzania to begin operation of largest gold mine

Tanzania to begin operation of largest gold mine

The government of Tanzania is set to reap benefits from what would be the country’s largest goldmine-Nyanzaga operated by OreCorp Limited in Sengerema District, Mwanza Region.

OreCorp Limited was issued with mining license to begin production at the mine estimated to have reserves of 4.2 million troy ounces. According to Chief Government Spokesperson Gerson Msigwa each project would attract over 100 million US dollars (2.3 tri/-) as investment cost.

Mr Msigwa made the revelation in Dar es Salaam, yesterday while highlighting on ‘Six-Phase government’s implementation of various projects and promises.’ In another development, the government has also issued license for implementation of a big project to mine ‘Rare Earth element’ in Ngwala Ward of Songwe Region.

“Each project will create more than 1000 new direct and indirect jobs once they start operations,” pointed out, Mr Msigwa as he briefed members of the press. The projects will be part of the recent milestone achievements the country has made in the mining sector after amending laws, which assure more benefits and ownership of natural resources go to Tanzanians.

High demand 

“Remember that our mining law gives 16 percent ownership to the government and we are certain to collect various taxes and levies. That is why we say this is another major victory in the mining industry,” he added.

Elaborating, the government spokesperson said that when the mines would start productions, the prospective rare earth mineral site in Songwe region will also go hand in hand with building its refining plant.

“This plant to be built in the country is expected to increase demand of acid that is used for its refining, hence create a market for acid producers,” he said.

Mr Msigwa said that Liganga and Mchuchuma Iron and coalmine were also in the process of kicking off. He said that since iron demand was high in the world market, the government has worked hard to support the investors to start extraction activities soonest possible.

Other mega projects attracting global powerful investors in the country, included the Kabanga Nickel in Kagera region, which he said was ready for starting mining activities.

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