https://www.miningweekly.com
Gold|Mining|PROJECT|Resources
Gold|Mining|PROJECT|Resources
gold|mining|project|resources

Tanzanian Gold expands relationship with JV partner for Buckreef project

8th January 2021

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

TSX-listed Tanzanian Gold and its joint venture (JV) partner, the State Mining Company (Stamico), have submitted an updated mine plan for the Buckreef gold project, in Tanzania, to the country’s Mining Commission.

Stamic, which is 100% owned by the Tanzania government, owns a 45% nondilutable equity interest in Buckreef Gold Company, which wholly-owns the project.

In a statement on January 8, Tanzanian Gold said changing circumstances had necessitated an updated mine plan, including reviewing the mining licence area to accommodate artisanal mining on certain concessions, and the separation of the oxide and sulphide mine processing plants for metallurgical considerations.

As part of the submission to the mining commission, Buckreef Gold Company intends to relinquish certain concessions since this has no impact on the Buckreef concession and mineral resources of just over two-million ounces.

The updated mine plan, once approved, will replace the mine plan submitted to the Mining Commission in 2017 as part of the renewal of the project's special mining licence.

The company has also reviewed the Buckreef JV agreement with Stamico to bring its terms in line with recent changes in the Tanzanian mining laws and to modernise the working arrangement between the parties.

The parties have identified and agreed to amendments to the JV agreement, which have now been submitted to the relevant government authorities for further processes.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.136 0.168s - 91pq - 2rq
Subscribe Now