October 15 is the deadline for expressions of interest in a proposed joint venture (JV) with Tanzania’s State mining corporation for the processing of old gold tailings and the redevelopment of the Buhemba gold mine.
Tanzania’s State-owned mining corporation Stamico states in a tender advertisement in the latest edition of Mining Weekly that it is inviting sealed expressions of interest from technically and financially competent entities to partner it in developing and operating the Buhemba hard-rock resources, as well as processing old gold tailings and mineralised waste rock.
The notice states that the 8.18 km2 property has potential for a 610 590 oz in-situ hard-rock resource and a 50 000 oz inferred tailings resource.
Describing itself as the owner of the Buhemba property through prospecting licence PL 7132/2011, Stamico outlines in the tender notice that the JV partner it is seeking must provide equity capital financing and also participate operationally in the licensed area, which is 50 km south-east of the town of Musoma in the Mara region’s new Butiama district.
While no mining or metallurgical activity takes place in the Buhemba project area currently, Stamico says on its website that about 20% of the tailings resource has been lost to past illegal mining activities.
The State mining corporation, which was established through an Act of Parliament in 1972, outlines its main objective as finding technical capability and financial capacity to undertake exploration, mining, processing and gold marketing from companies to be shortlisted on company, technical, financial and other criteria, which include the use of local expertise and the promotion of local content in services.
The State mining corporation reports that 12.6-million ounces of gold were produced at an average grade of 12.6 g/t at Buhemba from 1927 until 1967 when the Tanzanian government nationalised privately owned mines.
The mining operations recommenced in 2003 but ceased again in 2007 when large-scale mining was deemed uneconomical and Buhemba became an active site for artisanal and small-scale miners operating within both licensed and unlicensed mining areas.
Expressions of interest must be in before 14:00 Eastern Africa Time on Thursday, October 15.