Overview
Tanzania has become one of the fastest-emerging gold producers in Africa, and is now the continent’s third-largest gold-producing country after South Africa and Ghana. Annual production of gold has increased from around 43.2 t in 2002 to about 48.0 t in 2003. Based on ongoing projects and developing mines, anzania’s estimated gold reserves have been calculated at a conservative total of Tanzania now has proven gold reserves in excess of 36 Moz (1000 t). In 2003 Tanzania reported a 20% increase in gold exports from US$414 million to US$504 million and accounted for more than 62% of total export revenues, compared with 49% in 2002. There was a tremendous increase in gold exports which resulted in the signing of another gold-mining contract, this time between the Government of Tanzania and Pangea Minerals Ltd. The contract will pave the way for mining at Tulawaka in the Biharamulo District, Kagera Region, in the Lake Victoria goldfields. The Tulawaka mine is expected to come on stream in early 2005. It will be the sixth large-scale gold mine to come into production in Tanzania within six years.

Tulawaka is jointly owned by Barrick Gold Corp subsidiary, Pangea Goldfields Inc (70%) and Miniére du Nord (30%), both of Canada, and will be operated by Pangea Minerals Ltd. The mine, expected to have a life of 25 years, involves an investment of US$50 million, and annual production capacity is anticipated to be 500,000 oz.

Each year since 1998, a new gold mine has been opened in Tanzania. The mines are owned by Resolute Ltd; Ashanti Goldfields in joint venture with AngloGold; Barrick Gold Corp; Placer Dome Inc; Meremeta Ltd; and Pangea Goldfields Inc in joint venture with Miniere du Nord.

AgloGold Ashanti owns 50% of the Geita mine in Tanzania. The mine which started production in August 2000 produced a record 661,045 oz at a cash operating cost of US$170/oz in 2003, compared with 579,043 oz at US$163/oz in 2002. The upgrade of the crushing and leach tank sections of the processing plant was successfully commissioned in the first quarter of 2003 and the capacity of the plant was increased from 4 Mt/y to 5.6 M t/y.

2003 and 2004 have continued to see a steady increase in production in the gold mining industry.

Organisations (12)
East Africa Gold Corporation, East African Gold Mines (Tanzania) Ltd, Mgusu Mining, Miyabi gold property, Nsimbanguru Mining, Resolute Tanzania, Shanta Gold, Shanta Mining Company, State Mining Corp, Sub-Sahara Resources (Tanzania) Limited, Twigg Gold Limited, Universal Gold NL (Tanzania) :[ Add More ]

Facilities (17)
Afrika Mashariki Gold Mine, Buhemba, Bulyanhulu, Chocolate Ridge, Geita, Golden Pride, Golden Ridge, Kabanga, Kahama, Kukuluma, Lone Cone, Mobrama, Mwadui mine, North Mara, Nyabirama, Tulawaka Gold Mine, Williamson

Participating Organisations
AngloGold Ashanti Limited

AngloGold Ashanti solely owns Geita mine located in the Lake Victoria Goldfields.

Barrick Gold Corporation

Barrick began production from the newly commissioned Bulyanhulu mine located in the Lake Victoria Goldfields in north central Tanzania.

Resolute Mining Ltd (Australia)

Resolute operates the Golden Pride Mine located in the Lake Victoria Goldfields, Tanzania.

Shaun Bakamoso

Greetings. I'm Shaun Bakamoso, and I'm thrilled to be your guide through the dynamic world of business news in South Africa here at mbendi.co.za. With a passion for staying informed and a keen interest in the ever-evolving landscape of business, I've dedicated myself to providing you with timely, insightful, and comprehensive coverage of the latest developments impacting the South African economy. bakamoso@gmail.com / Instagram