With its abundance of natural resources, thriving economy and booming tourism industry, Tanzania is an attractive country for business and investment.
Gold mining has been prominent in Tanzania for more than a century making it Africa's fourth largest gold producing country. Nonetheless, the country remains comparatively under-explored.
Shanta Gold's portfolio of properties includes mining licences held at both New Luika and Singida.
New Luika Gold Mine
The New Luika Gold Mine is located in the Lupa Goldfield of southwest Tanzania. Our flagship asset delivered 87,713 ounces of gold in 2016. Underground ore was produced from the first stope in the Bauhinia Creek deposit in May 2017 and the mine has now successfully transitioned from an exclusively surface mining operation to one that is predominantly underground.
Singida is an advanced stage exploration and development project with a mining licence granted in 2012. Drilling results from an exploration programme to expand the understanding of the deposit in 2016 have increased the Company’s confidence that, subject to an updated Feasibility Study, Shanta will be able to significantly add to its production of low cost ounces, at a competitive capital cost.
The Lupa Goldfield is the second largest goldfield in Tanzania outside of the Lake Victoria Goldfield. From 1935 to 1959 an estimated 650,000 ounces of gold were extracted from the area.
Through its Tanzanian subsidiaries, Shanta Gold holds over 1,560 km2 of prospective exploration ground with a further 101 km2 under application in the Lupa Goldfield.