Tanzania

The government has warned mineral traffickers that they will face the full force of the law after becoming aware of their actions to steal valuable resources. At the ceremonial inauguration of the fifth National Mineral Technology Expo on Monday at the EPZA Bombambili grounds in Geita Region, Minerals Minister Dr. …

By Ali Gulamhussein, Plasco CEO In 2015 CPS Live Ltd, a real estate developer launched Fumba Town, a modern African town in Zanzibar, the island that lies some 30km (just over 16 nautical miles) off the Tanzanian mainland. Fumba Town consists of 3,000 housing units, commercial, retail, hospitality, and medical …

Following the revocation of its permit to prospect for rare earths in Tanzania, TORONTO-listed Montero Mining & Exploration said last week that it has launched a C$90 million claim against the East African nation. The claim has been submitted to the International Centre for Settlement of Investment Disputes of the …

The aim-listed operator of the Rukwa coal project in Tanzania, Edenville Energy, has announced a board reorganization as part of its ambitions to grow the project to take advantage of rising coal prices and demand, as well as to extend the company’s business operations. With immediate effect, Alistair Muir and …

Shanta Gold, an East African gold producer, developer, and explorer, has signed binding definitive documents with Stanbic Bank Tanzania for a $20 million loan facility to help it expand its portfolio. Shanta CEO Eric Zurrin says the four-year $20 million facilities is a significant step forward for the company because …

An official claimed on Sunday that eight dealers were arrested in Geita, Tanzania’s northern province, for smuggling an undefined amount of gold out of the country. The arrest was reported by Doto Biteko, the Minister of Minerals, at a meeting with small-scale miners in the gold-rich Geita region’s Lwamgasa district. …

Caracal Gold, an LSE-listed company, has agreed to a new share purchase agreement (SPA) for its proposed acquisition of Tyacks Gold, the holder of the Nyakafuru project’s licenses in Tanzania. The project is located 140 kilometres southwest of Mwanza, Tanzania’s second-largest city, amid the Lake Victoria Gold Fields in northern …

The Amani Nature Reserve, established by Tanzanian authorities in 1997 to protect the East Usambara Mountains’ unique flora and fauna, is under threat from gold mining, according to an official. Over 20 hectares of natural forest cover have been destroyed by artisanal miners in recent years, according to Fikiri Maiba, …

Joint ventures, rather than outright acquisitions, have the advantage of spreading the risks associated with complex minerals that may not provide the margins of the traditional bulk commodities. As the trend gathered pace, the world’s largest listed BHP Group (BHP.AX), this month said it had spent $40 million to advance …

Minerals Deputy Minister Dr Stephen Kiruswa has directed the investor to ensure they get the approval of the villagers as they expand and change land use in the areas from pasture land to a mining field. The government also ordered mining firms to adhere to the country’s mining laws and …