Tanzania

Despite full year gold production of 767,883 ounces at all-in sustaining costs (AISC) of US$875 per ounce, Acacia Mining has post net loss of US$707 million. Peter Geleta, the company’s Chief Executive Officer remains optimistic , though the books are in the red. “We delivered resilient operational performance during a …

Flake graphite development company, Volt Resources has lodged its Environmental and Social Impact Statement (ESIS) and the National Environment Management Council (NEMC) for the company’s flagship Bunyu Graphite Project. “Volt continues to make significant progress towards the proposed commencement of Stage 1 production at the Bunyu Project, and the submission …

Volt Resources has raised $4.7-million to support the fast-tracking development at its flagship Bunyu graphite project, in Tanzania. “Volt is now strategically positioned to execute on a number of operational milestones as part of the stage 1 development of Bunyu, with near-term deliverables to include the finalisation of all project …

Newly formed Tanzania Ministry for Energy has committed to an indicative timeline for the completion of the MOU for the fast-tracking of the Mbeya Coal to Power Project (MCPP). The project developer multi-asset African focused energy and resource company, Kibo Mining is optimistic following the decision. “Our focus on positioning …

Tanzanian-focused flake graphite development company Volt Resources Limited has announced intentions to proceed with the issue of US$40 million in structured debt funding. Volt has engaged Exotix Capital to undertake a Tanzanian Bond issue to raise the required funding for the development of Stage 1 of the Bunyu project. Exotix has recommended …

Shanta Gold, the East Africa-focused gold producer, has announced a JORC-compliant mineral resource estimate for Tanzania’s Singida Gold Project. Singida contains 12.3 million tonnes at 1.84 g/t gold for 728,000 ounces while the measured and indicated resources total 5.11 million tonnes @ 2.09 g/t for 345,000 ounces while inferred resources …

Petra Diamonds is optimistic to move out of the murky waters following the end of labour dispute in South Africa and the lifting of an export ban in Tanzania. Johan Dippenaar, the company’s Chief Executive Office has allayed fears of a possible breach of loan terms, as a threat to …

Tanzania’s Katoro Gold has expanded the prefeasibility study (PFS) of its Imweru gold project to include a light detection and ranging (Lidar) survey. According to the company, the Lidar survey has been commissioned without compromising the timeline or budget, will use pulsed laser light to create a “highly accurate data …

Kibo Energy has upgraded existing pact with Tanzanian authorities for the development and implementation of the Mbeya coal-to-power project (MCPP). According to the company, the deal inked with the Tanzania Ministry of Energy and the Tanzania Electric Supply Company (Tanesco), regarding a power purchase agreement (PPA) is to provide a …

Shanta Gold has received a $3.4-million value-added tax (VAT) refund from the government of Tanzania. The refund is made up of a $1.9-million offset against corporate taxes payable in 2016 and 2017 and a cash payment of $1.5-million. Shanta’s VAT receivable balance has reduced to $13.4-million. In August, Shanta Gold  cancelled …