Geita RC to lay foundation stone for first gold refining plant
ippmedia.com/en/business/geita-rc-lay-foundation-stone-first-gold-refining-plant
September 24, 2019
24
Sep 2019
The Guardian Reporter
Geita
Business
The Guardian
Geita RC to lay foundation stone for first gold refining plant
A foundation stone for the country’s first gold refinery will be laid by Geita Regional Commissioner, Engineer Robert Gabriel in the region today thanks to multi-billion shillings investment by GG Refinery Limited.
The company’s spokesman, Burton Mwakisu said in Geita yesterday that the G2 RTM has already been awarded a gold refining license by Ministry of Minerals’ Mining Commission to approve the refinery plant.
Construction of the refinery’s land, infrastructure development and equipment fabrication are already underway in Geita. “This endeavor is designed to increase revenue and create jobs as well as promote modern technologies which will maximise benefits from the mining industry,” Mwakisu said.
“The refinery will cover 3,500 square meters and will be state-of-the-art facility located on over 20 hectares of land in Geita town. This is a highly strategic location within Tanzania’s Great Lakes Region which produces the most gold in the country,” he added.
Working in support of the government’s recently established regional mineral trading centers, along with small-and medium scale miners, dealers and mining operators, the refinery will serve as the main focal point for gold purification, he pointed out.
With an annual gold processing capability of up to 100 tons and a target purity of 99.99 percent (also known as 999.9 fineness GG Refinery, the company hopes to exploit both regional and global markets for gold.
The refinery will also have an integrated minting with the ability to fabricate a variety of bullion grade products, including the production of internationally recognized and marketed ingots, such as kilo-bars and 400 troy-ounce bars.
Advanced minting operations will eventually be implemented to produce internationally marketed numismatic and commemorative coins that will highlight Tanzanian’s unique natural wonders, wildlife, history and culture, Mwakisu underlined. Geita is one of the country’s main gold producers accounting for about 35 percent of total annual production.