OreCorp Tanzania Limited (OreCorp) is one of the mining firms that supported the annual event held at the Bombambili grounds in the region that kicked off on September 16 and 26, this year.
Speaking at the firm’s booth, OreCorp general manager, Damien Valente described the exhibition as a huge success as it provide a platform for mining stakeholders to exchange views and share experiences on how to boost the sector.
He said that the exhibition comes at a pivotal time for OreCorp following recent approval by the government of a Special Mining Licence application to develop the 670bn/- Nyanzaga Gold Project south of Ngoma in the Sengerema District.
“The project is now on track to be the first large-scale gold mine to be built in Tanzania in over a decade and the first-ever large-scale mine in the Sengerema District.” According to Valente, the Nyanzaga Gold Project is located in the Sengerema District of the Mwanza Region in the Lake Victoria Goldfields. The deposit hosts an estimated three million ounces of gold and will produce approximately 200,000 ounces (six tonnes) of gold per annum and will cost an estimated 670bn/- to build.
In addition to the Cabinet approval of the Special Mining Licence application an environmental and social impact assessment has been undertaken and an Environmental Impact Assessment Certificate has been granted by the National Environment Management Council.
The project will also deliver additional benefits to the region including education, health facilities, and infrastructure via the Company’s generous community enhancement scheme.
Opening a ten-day showcasing event, Prime Minister Kassim Majaliwa reaffirmed that government’s strong commitment to continue safeguarding national resources and ensure they contribute more to the country's socio-economic development.
Majaliwa stated that one of the means would be to continuously implement reforms on guidelines and procedures governing mining and trade activities in order to attract more investment in those sectors.