Courtesy. Africa Mine Brief

Tanzania’s Stamigold eyes first gold production

Tanzania’s reputation as one of Africa’s best gold producers has been sustained with reports indicating that Stamigold, a subsidiary of the State Mining Corporation (STAMICO), will celebrate its first gold production in 2014 by importing new heavy duty machinery, African Mining Brief reports.

The online mining, energy and power publication posted on its website citing company’s Acting Stamigold Biharamulo Mine Manager, Dennis Ssebugwao, as confirming that the company will procure own machineries expected to slowly out phase dependence on equipment they hire from private companies.

They are yet to import new heavy duty mining equipment worth US$ 5.5m, the online publication added in its report.

The machines involved are two excavators and two dozers. Stamigold is planning to do away with hired machines in phases, and is expected to complete doing away with dependency within six months to one year from now.

According to Ssebugwao, Stamigold will now be able to perform the finishing stage of producing quality gold between 85 per cent and 90 per cent.

Still, the online adds, foreign experts will be required to refine the gold further so it can attain best price in the world market.

STAMIGOLD Company Limited engages in prospecting, exploration, development, production and processing of gold, it also markets gold within foreign markets.

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