Battle: Dar es Salaam vs Nairobi

The best 007 said:
Weka vielelezo hapa au kaa kimya mbuzi wee [emoji1787][emoji1787][emoji1787][emoji1787][emoji1787][emoji1787][emoji1787]
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swadakta.. haina wass, kesho inshaalah!. leo ilikua arrival day. for the nxt 3wks ntakuonesha vijimambo na kisumu dala..
 

Kabanga Nickel to recruit thousands once operations start this year​

ippmedia.com/en/business/kabanga-nickel-recruit-thousands-once-operations-start-year

August 18, 2021
18Aug 2021
By Guardian Reporter
Kagera
Business
The Guardian
Kabanga Nickel to recruit thousands once operations start this year


Minerals minister, Dotto Biteko.
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The bulk of the employees will be people from surrounding communities. “Priority will be given to locals from communities surrounding the project,” said Tembo Nickel Country Manager, Benedict Busunzu.

In January this year, Kabanga Nickel signed a binding framework agreement with the government to extract nickel deposits in an investment targeting to export the mineral to the global market hence earn the country hard currency.

Busunzu said that preparations for the commencement of operations are at advanced stage and the company is simply awaiting a special mining license from Ministry of Minerals to start production as the investor has already submitted the project’s comprehensive work plan to the ministry for necessary action.

“I cannot comment on when the special mining license will be issued because I think the ministry is in a better position to explain on progress made on the process but what I can tell you is that the necessary documents have been submitted as requested by the Ministry of Minerals,” Busunzu added.

He noted that the company is currently putting in place the necessary infrastructure to support the project that includes accommodation camps for staff, water power supply and roads to serve the mine. “On top of that we are in the process of engaging local communities to ensure that they tap into opportunities that will be created when the project finally commences,” he stated.

Tembo Nickel will undertake mining operations, and will process nickel with copper and cobalt products - two of the key ingredients used in electric vehicle (EV) batteries manufacturing. Economic benefits realized from the project will be shared between the two shareholders.
 

Shanta Gold receives 9.8bn/- from TRA as VAT refund in Q2 of 2021​

ippmedia.com/en/business/shanta-gold-receives-98bn-tra-vat-refund-q2-2021

August 18, 2021
18Aug 2021
By Guardian Reporter
Mbeya
Business
The Guardian
Shanta Gold receives 9.8bn/- from TRA as VAT refund in Q2 of 2021
LONDON Stock Exchange (AIM) listed Shanta Gold Limited which operates New Luika Gold Mine in Chunya district of Mbeya region has confirmed receiving U$4.2 million (over 9.7bn/-) in value added tax (VAT) returns from Tanzania Revenue Authority during the first half of this year.


Shanta Gold’s CEO, Eric Zurrin.
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Shanta Gold Plc’s CEO, Eric Zurrin said in the first half report that softer production for the period also meant that revenues was slightly reduced. “But we are pleased to confirm that we have received US$4.2 million in VAT offsets as we work with the Tanzanian government to clear the outstanding balance,” Zurrin said.

He pointed out that the company has a strong future across portfolio of assets in Tanzania and Kenya, with near term production at Singida and exploration upside in New Luika and West Kenya where everything is on track to fulfilling an ambition of becoming a mid-tier gold producer in Africa.

“We’ve had some real exploration success at Shanta Gold during 2021 leading to the positive five-year outlook that we’ve outlined this morning transforming us to a 110,000+ ounces gold producer by 2023,” the Shanta Gold CEO added.

Zurrin however revealed that his management is disappointed because the year’s production guidance will be reduced to between 60,000 – 65,000 ounces. “Whilst this is partly due to a deferral of ounces to 2022 onwards, it is not the outcome we hoped for this year,” he explained.

Among the highlights of the report include Singida Mine construction progressing with tenders for key infrastructure ongoing; U$1.7 m paid towards manufacture of the crushing circuit, which is progressing ahead of schedule; manufacture of the ball mill now underway; pre-stripping which commenced in July; and bush clearance around construction being completed.

On New Luika Mine, the half year report stated that assay results received from the Luika deposit added 76,461 ounces of new Indicated resources grading 7.97 grams per ton; and underground drilling at the Bauhinia Creek East Area 1 target which also generated positive results.

Other highlights also included; reduction of gross debt to U$0.8m compared against U$11.1m in the first quarter; repayment of convertible loan notes and debt facility with Exim Bank; having net cash of U$24.1m compared to U$31.0m during the first quarter; and gold production of 14,201 ounces compared to 14,641oz in the first quarter due to lower than anticipated grades from underground mining.
 
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