Invisible
Robot
- Feb 11, 2006
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By Felix Mwera, Kahama
Source: The CitizenBulyanhulu Gold Mine Ltd (BGML) has set up a $230,000 bank building at Kakola in Kahama district in Sinyanga Region.
BGML communications officer Blandina Munghezi told reporters here that the aim was to introduce a bank mine workers and surrounding communities.
BGML has about 3,000 employees, most of them locals and they access banking services in Kahama and Geita towns many kilometres away from the mine.
She hinted that negotiations were underway with Stanbic Bank to provide banking services in the building.
"It is hoped that the bank will open doors for business early next year," she said.
The deputy minister in the Prime Minister's Office (Regional Administration and Local Government), Mr Aggrey Mwanri, laid the foundation of the building on Tuesday .
He thanked the company for supporting the project to speed up economic activities of surrounding communities.
The miner has earmarked Sh4 billion community development projects next year with education, health and water sectors getting top priority general manager Greg Walker said.
$750 million had been invested at the underground mine which started operations in 2001.
The investor anticipates to start generating profit in 2014 after recovering the investment package.
"We are still recovering $750 million that has been invested here but we are paying all taxes to the Government of Tanzania in many ways except corporate tax," Mr Walker was recently quoted as saying.