Nzega Golden Pride mine robbed of gold worth $3m THISDAY REPORTER Dar es Salaam POLICE have confirmed they are investigating reports of an armed robbery incident at the Golden Pride Gold Mine Nzega, Tabora Region, in which gold bullion worth an estimated $3m (approx. 4bn/-) is said to have been stolen. According to the Commissioner of Police responsible for operations, Paul Chagonja, investigations were initiated immediately after receiving the report on Tuesday night. We have already started looking into what might have caused the loopholes that made it possible for the robbers to penetrate the vaults at the mine and steal the gold bars, CP Chagonja told THISDAY. His comments were echoed by the Head of Special Units in the Police Force, Deputy Commissioner Venance Tossi, who said investigation work is well underway and a report from the Tabora regional police commissioner is now being awaited. Reports of the robbery first surfaced in a statement from the mines owners, Resolute Mining Limited from Perth in Australia, to the Australian Stock Exchange where the company is listed. According to the statement, up to 3,500 ounces of gold bullion was stolen in the heist. But it also said the company has insurance to cover the loss from the theft. Speaking from Perth, Resolute Mining Chief Executive Officer Peter Sullivan was quoted as saying it was the first time gold had been stolen from the companys Tanzanian operation. Everyone is in a bit of a shock there...its not something that happens very often, he said, adding that the stolen gold bars had been all set for shipment. The company is now reviewing security procedures at the mine site, Sullivan said. Gold for immediate delivery was little changed at $885.92 an ounce on the world market at 5:43 pm in Sydney time. In the meantime, Resolute shares at the Australian bourse had risen 0.6 per cent to 79.5 cents at the 4:10 pm Sydney time close of business. The stock is reported to have jumped 68 per cent this year, and now has a market value of 252 million Australian dollars. Resolute is reported to have produced 21,321 ounces of gold from its Golden Pride mine in Tanzania, out of a total output of 73,140 ounces from all its gold mining operations, in the December quarter.