Market News

Dar es Salaam: Tanzania's government has signed a joint venture deal with four mining corporations, paving the way for Tanzanians to benefit from the country's natural resources. Faru Graphite Corporation, Petra Diamonds Ltd (PDL), Nyati Mineral Sands Ltd, and Sotta Mining Corporation Ltd are t . . .

Shanta Gold (AIM: SHG), an East Africa-focused gold producer, developer, and explorer, has released an update on the construction progress at the Singida Gold Project in Central Tanzania, indicating that first gold production will occur in early 2023. In October of 2020, work on the Singida gol . . .

THE STATE MINING Organization (STAMICO) has purchased trucks and machineries worth 1.8 billion/- for drilling and exploring services in an effort to avoid leasing such equipment, which was costing the corporation millions of shillings. Professor Simon Msanjila, Permanent Secretary in the Minist . . .

The corporation has already hired a local contractor to handle the earthmoving and civil work on the job site. 'The contractor is currently putting all of the civils in place so that when the plant arrives from China, it can be installed.' We've also made the first payment to our EPC contractor (Yan . . .

This is NMB Bank's third mining-related platform. Mining clients of NMB Bank Plc in Arusha, Northern Zone now have their own networking platform. The platform is part of a larger aim by the lender to increase lending to the mining sector from Sh63 billion to Sh200 billion by 2025. The . . .