In a statement last week, the Toronto Stock Exchange and New York Stock Exchange listed company said that it has advertised, issued, received and is reviewing the qualified bid responses for the Buckreef Gold Project’s request for proposal for its mining process.
“The RFP included as part of its requirements a thorough and working understanding of current laws and regulations for mining processes and operations which are located in the United Republic of Tanzania, including, but not limited to ‘The Mining Local Content Regulation, 2018’, and compliance with this regulation,” TGC’s executive chairman James Sinclair said.
Sinclair further stated that in short, the company has accepted and is reviewing bids for work necessary for mining processes which include, but are not limited to, advising and taking an active role in final feasibility with particular emphasis on developing processing solutions for the recovery of gold.
To be considered, bidders were required to offer and qualify as independent third parties to the company for transparency, technical expertise and soundness, unbiased expertise to execute process testing, provide engineering services to develop and verify the process plant proposed by the company.
“Additional transparency requirements are to meet with company’s authorized persons; engage in conversations about the process testing and project engineering; engage in discussions and respond to inquiries. Outstanding references were required and have been received among qualified bidders,” he added.
Sinclair’s statement further noted that a qualified bidder is required to develop project resources and involve consultants and subcontractors to the extent authorized by the company, and add value to the project.
“Qualified bidders are also required to visit the project site to establish equipment and infrastructure and evaluate what is available on site; identify the available feedstock and discuss representative sample requirements for further mineralogical and metallurgical test work required to verify a required flow sheet and equipment sizing for the proposed plant,” the TGC executive chairman stated.
Qualified bidders are also required to provide engineering, procurement and construction management services as appropriate to facilitate implementation of the processing plant. The foregoing are the simplified and general requirements of qualified bidders, the statement noted.
The company will choose among the field of qualified bidders, an organization which will ensure the path and process forward, including team objectives, and local legal requirements. The company will also choose an organization with a history of success and one which will be flexible in the event the understandings of the company and bidder require supplementation in our agreement for a smooth process forward, the statement explained.
The finalization process includes a review by State Mining Corporation technical team with subsequent review for clearance with the Tanzanian Mining Commission. The Buckreef Gold Project is jointly developed by Stamico and TGC.