Saturday , September 19 2020

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Tanzania’s instant millionaire hits another jackpot

Accidentally millionaire, Saniniu Laizer, has discovered yet another giant violet-blue stone weighing 6.3 kilograms (13.9 pounds). This is within two months of becoming a millionaire overnight in June after his mining company discovered two rough Tanzania gemstones worth $3.4 million and believed to be the largest in the world. Laizer, …

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DRC exploring solutions to tame a weakening local currency against the US dollar

The Governor of the Central Bank of Congo (BCC), Deogratias Mutombo, believes that the current depreciation of the local currency is caused by the lack of repatriation of foreign earnings by mining companies into Congolese monetary circulation. Authorities in the Democratic Republic of Congo have indicated they will tighten controls …

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Shanta completes acquisition of West Kenya.

Tanzania gold miner Shanta Gold has completed the US$14.5 million acquisition of West Kenya across the border in Kenya, from Barrick Gold (now a 6% Shanta shareholder), and plans to start infill and extension drilling soon to try to build out the current resource of 1.2Mt grading 12.6gpt (1.18Moz) and …

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