Regional leasing firm, Vehicle and Equipment Leasing Limited (VAELL), will be supplying mining equipment to the second largest mine in Tanzania. Machinery worth $20 million (Sh2.2 billion) have been ordered and about $10 million (Sh1.1 billion) has already been delivered.
In the arrangement, the leasing firm will be equipping Star Planet Consultancy (T) Limited (STAPCO) that was awarded the contract to mine gold in the Stateowned Biharamulo mine located in Kagera Region. Tanzania is the fourth-largest gold producer in the continent after South Africa, Ghana and Mali.
The mining industry experienced an estimated 15.3 per cent growth in the first quarter of 2020 compared to 10 per cent growth during the same quarter in the previous year. Some of the equipment leased to the miner includes articulated dumpers that have become popular in many industries because of their unique hauling capabilities. In particular, an articulated dump truck has the power and dependability you need to accomplish the toughest of tasks and the precise handling required to ensure safety and efficiency.
Other equipment that will be supplied in the arrangement include includes excavators, loaders, breakers, tippers, wheel graders, drills and compressors. The contract will run for a period of five years. Bertha Mvati, VAELL’s Managing Director, said: “We aim to support more government initiatives, particularly in the gold mining sector. In our operations in East Africa, we have realized that locals have the capacity and they can do more when supported.
Source: The Standard
In the arrangement, the leasing firm will be equipping Star Planet Consultancy (T) Limited (STAPCO) that was awarded the contract to mine gold in the Stateowned Biharamulo mine located in Kagera Region. Tanzania is the fourth-largest gold producer in the continent after South Africa, Ghana and Mali.
The mining industry experienced an estimated 15.3 per cent growth in the first quarter of 2020 compared to 10 per cent growth during the same quarter in the previous year. Some of the equipment leased to the miner includes articulated dumpers that have become popular in many industries because of their unique hauling capabilities. In particular, an articulated dump truck has the power and dependability you need to accomplish the toughest of tasks and the precise handling required to ensure safety and efficiency.
Other equipment that will be supplied in the arrangement include includes excavators, loaders, breakers, tippers, wheel graders, drills and compressors. The contract will run for a period of five years. Bertha Mvati, VAELL’s Managing Director, said: “We aim to support more government initiatives, particularly in the gold mining sector. In our operations in East Africa, we have realized that locals have the capacity and they can do more when supported.
Source: The Standard