JOHANNESBURG (miningweekly.com) – Exploration and development company Obtala Resources announced on Tuesday that it was among three bidders short-listed for the Buckreef gold mine redevelopment project in the Lake Victoria goldfields, of northern Tanzania. The identities of the other two bidders could not be immediately confirmed.
Tanzania’s State mining corporation Stamico was scheduled to meet with the three companies in December, after which a decision would be announced.
The project is currently held 100% by Stamico on behalf of the government and it comprises one mining licence and 12 contiguous prospecting licences, covering an area of about 95 km2.
The licence areas of the Buckreef mine, as well as Rwamagaza and Buziba, were all within the mining licence area and were at an advanced exploration and prefeasibility stage, with a defined resource of 1,45-million ounces of gold.
Obtala chairperson Frank Scolaro said that the project, if awarded, represented a significant opportunity for Obtala and its shareholders.