Geza Ulole
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Kisumu vs Mwanza
Kisumu vs Mwanza
- Thread starter Adolf Hitler Jr
- Start date
Geza Ulole
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Geza Ulole
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Revenues from Mwanza, waiting the revenues after the gold refineries!
Dpresident tz
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😂😂😂😂
Geza Ulole
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SOUTH AFRICA NEWS
APRIL 29, 20217:18 PMUPDATED 4 DAYS AGO
2 MIN READ
DAR ES SALAAM, April 29 (Reuters) - A new gold refinery set to be the biggest in Tanzania has begun production in a step towards the government’s aim of processing more of the precious metal domestically.
Africa’s fourth-biggest gold producer and home to industrial gold mines run by Barrick, AngloGold Ashanti and others, Tanzania has been trying to formalise subsistence gold mining and develop refineries to generate more revenue from the sector.
The refinery in Mwanza, a city on Lake Victoria, is processing gold from sources including subsistence or “artisanal” miners, Tanzania’s State Mining Corporation (STAMICO), a 25% shareholder, said.
Subsistence miners have been estimated to number around 1 - 1.5 million in Tanzania, though the actual number could be much higher. Gold mining has become more attractive as prices jumped.
“Our major source of raw gold will be from artisanal miners, middle and larger miners. We also expect raw gold from neighbouring countries,” Venance Mwasse, acting managing director of STAMICO told Reuters by phone. He did not specify from which other countries he expects gold.
Mwanza Precious Metal Refinery refined 47 kilogrammes of gold on its first day of operations on April 21 and has capacity to refine up to 480 kilogrammes of gold per day at 99.99% purity, Mwasse said.
Dubai-based Rozella General Trading LLC and Singapore-based ACME Consultant Engineers PTE Ltd together hold a 75% stake in the refinery, according to a statement from STAMICO which did not specify the individual shares held by Rozella and ACME.
Spot gold was trading at $1,764.50 per ounce on Thursday.
Rozella General Trading did not respond to an emailed request for comment. Reuters could not immediately contact ACME Consultant Engineers PTE Ltd.
Mwasse said the refinery plans to help artisanal miners produce more gold, and has met with dealers and brokers to bring in more gold.
Reporting by Nuzulack Dausen in Dar es Salaam, Writing by Helen Reid in Johannesburg, Editing by Andrea Ricci
Our Standards: The Thomson Reuters Trust Principles.
MORE FROM REUTERS
www.reuters.com
MY TAKE
When was the last time Kisumu inatajwa Reuters?
APRIL 29, 20217:18 PMUPDATED 4 DAYS AGO
Tanzania gold refinery starts producing in drive to boost gold revenues
By Reuters Staff2 MIN READ
DAR ES SALAAM, April 29 (Reuters) - A new gold refinery set to be the biggest in Tanzania has begun production in a step towards the government’s aim of processing more of the precious metal domestically.
Africa’s fourth-biggest gold producer and home to industrial gold mines run by Barrick, AngloGold Ashanti and others, Tanzania has been trying to formalise subsistence gold mining and develop refineries to generate more revenue from the sector.
The refinery in Mwanza, a city on Lake Victoria, is processing gold from sources including subsistence or “artisanal” miners, Tanzania’s State Mining Corporation (STAMICO), a 25% shareholder, said.
Subsistence miners have been estimated to number around 1 - 1.5 million in Tanzania, though the actual number could be much higher. Gold mining has become more attractive as prices jumped.
“Our major source of raw gold will be from artisanal miners, middle and larger miners. We also expect raw gold from neighbouring countries,” Venance Mwasse, acting managing director of STAMICO told Reuters by phone. He did not specify from which other countries he expects gold.
Mwanza Precious Metal Refinery refined 47 kilogrammes of gold on its first day of operations on April 21 and has capacity to refine up to 480 kilogrammes of gold per day at 99.99% purity, Mwasse said.
Dubai-based Rozella General Trading LLC and Singapore-based ACME Consultant Engineers PTE Ltd together hold a 75% stake in the refinery, according to a statement from STAMICO which did not specify the individual shares held by Rozella and ACME.
Spot gold was trading at $1,764.50 per ounce on Thursday.
Rozella General Trading did not respond to an emailed request for comment. Reuters could not immediately contact ACME Consultant Engineers PTE Ltd.
Mwasse said the refinery plans to help artisanal miners produce more gold, and has met with dealers and brokers to bring in more gold.
Reporting by Nuzulack Dausen in Dar es Salaam, Writing by Helen Reid in Johannesburg, Editing by Andrea Ricci
Our Standards: The Thomson Reuters Trust Principles.
MORE FROM REUTERS
Tanzania gold refinery starts producing in drive to boost gold revenues
A new gold refinery set to be the biggest in Tanzania has begun production in a step towards the government's aim of processing more of the precious metal domestically.
www.reuters.com
MY TAKE
When was the last time Kisumu inatajwa Reuters?
Geza Ulole
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Capital revenue up to US$44.0 million, a 35.4% increase on Q1 2020
- Giles
- April 15, 2021
- 7:14 am
Capital Ltd (LON:CAPD), a leading mining services company focused on the African markets, has provided its Q1 2021 trading update for the period ended 31 March 2021.
FIRST QUARTER (Q1) 2021 KEY METRICS
| Q1 2021 | Q1 2020 | Q4 2020 | % change fromQ1 2020 | % change fromQ4 2020 | |
| Revenue (US$m) | 44.0 | 32.5 | 34.6 | 35.4% | 27.2% |
| ARPOR*(US$) | 180,000 | 170,000 | 172,000 | 5.9% | 4.7% |
| Average utilised rigs | 64 | 56 | 56 | 14.3% | 14.3% |
| Fleet Utilisation (%) | 67% | 57% | 59% | 17.5% | 13.6% |
| Average Fleet | 95 | 98 | 95 | -3.1% | 0.0% |
| Closing fleet size | 98 | 99 | 94 | -1.0% | 4.3% |
Financial Highlights
· Revenue US$44.0 million, a 35.4% increase on Q1 2020 (US$32.5 million) and a 27.2% increase on Q4 2020 (US$34.6 million), the strongest quarterly revenue performance since the Company’s inception;
· Mine-site services continue to underpin revenue streams, contributing 87% of Group revenue;
· Strong growth in non-drilling revenue contribution (21% of total revenue) compared with Q1 2020 (12%), driven by MSALABS, Well Force and Mining Services;
· West African region contributed 37% to Group revenues in Q1, a 15% increase compared to Q1 2020 (32%) and a 95% increase since commencing the strategic relocation of assets in Q1 2018 (19%);
· Average monthly revenue per operating rig (“ARPOR”) increased 4.7% (US$180,000) on Q4 2020 (US$172,000) attributed to strengthening revenue contributions from new contracts (Predictive, Firefinch and Oriole), together with improved performance at long-term contracts (Centamin, Hummingbird and Resolute); and
· Declared a final dividend of US 1.3 cps for the 2020 financial year (2019: US 0.7 cps), payable 4 May 2021.
Operational Highlights
· Fleet Utilisation increased to 67%, an increase of 17.5% on Q1 2020 (57%) and 13.6% on Q4 2020 (59%) driven by start-up of new contracts;
· MSM, our fledgling maintenance business, awarded two-year complete hydraulic hose services contract with Resolute at the Syama Gold Mine, Mali;
· New exploration & delineation contracts awarded (previously announced) during the quarter include:
– Initial six-month delineation drilling contract for Allied Gold Corp, Mali;
– Exploration drilling contract for new client Cora Gold, Mali;
– Exploration drilling contract with Perseus Mining in Côte d’Ivoire;
– Initial six-month delineation drilling contract with Aya Gold and Silver Inc in Mauritania; and
– Six-month exploration drilling contract for Endeavour Mining Corporation, Burkina Faso.
· Transformational Sukari waste mining contract progressing well, highlights include:
– Q1 asset commissioning completed marginally ahead of schedule with the second phase of equipment commissioning on track for completion early Q2;
– Earth moving operations commenced in February; and
– Substantial progress on recruitment with approximately 70% of planned workforce hired during the quarter.
· Achieved a number of safety milestones during the quarter, including:
– Mwanza facility (Tanzania) achieved thirteen years LTI free in January;
– Yanfolila Gold Mine (Mali, Hummingbird) achieved three years LTI free in January;
– Bamako facility (Mali, Allied Gold) achieved three years LTI free in January;
– Bulyanhulu Gold Mine (Tanzania, Barrick) achieved one year LTI free in January;
– Bonikro Gold Mine (Côte d’Ivoire, Allied Gold) achieved one year LTI free in January;
– North Mara Gold Mine (Tanzania, Barrick) achieved five years LTI free in March; and
– Geita Gold Mine (Tanzania, AngloGold Ashanti) achieved four years LTI free in March.
· The Group’s expanded portfolio of ten long-term mine-site based contracts continue to perform well; and
· Rig count increased from 94 (31 December 2020) to 98, with the acquisition and commissioning of three new rigs to support the Sukari contract in (Egypt) and a further new rig to support the Cora Gold contract (Mali).
Outlook
· Q1 delivered the highest quarterly revenues since the company’s inception, with revenue growth delivered across all business units;
· Expanded budgets within the exploration drilling market, creating significant tailwinds for the exploration fleet which contributed strongly to overall rig utilisation;
· Capital Limited is currently experiencing the strongest demand environment for drilling services in a decade;
· Current gold price levels remain supportive for Capital, with c.90% of revenue exposure to the African gold sector, and other commodity prices, driven by energy metals, have also continued to increase strongly during Q1;
· Tendering market across all businesses continues to be highly active; and
· Revenue guidance for 2021 remains $185 to $195 million (compared to FY2020 revenues of $135 million), driven by higher drill rig utilisation, new contracts and contract extensions and the commencement of the load and haul waste mining contract at Sukari, Egypt.
Capital revenue up to US$44.0 million, a 35.4% increase on Q1 2020
Capital revenue up to US$44.0 million, a 35.4% increase on Q1 2020
www.directorstalkinterviews.com
Opportunity Cost
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Unapoteza nguvu zako kumuelewesha huyo kiazi,ukibishana na wapumbavu wewe ndio utakuwa hazikutoshi.
Wewe kwa akili yako Mwanza inaweza ku battle na Mombasa?
Geza Ulole
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Mapank
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Ilemela MC inaongeza mapato kupitia service levyTanzania starts refining gold to international standards
SUNDAY MAY 02 2021
Gold bars. Geita Mine has a zero-tolerance policy on corruption. PHOTO | FILE
Summary
- The BoT Governor expressed delight to hear that the refinery is also capable of extracting other valuable minerals from the gold concentrates.
By Rosemary Mirondo
More by this Author
Mwanza. Bank of Tanzania Governor Prof Florens Luoga has commended the State Mining Corporation (Stamico) for enabling Tanzania start refining gold to international standards, urging the refinery to acquire accreditation certificate to enable the Bank to start buying refined gold as part of its foreign reserves.
He said this after visiting the gold refinery, Mwanza Precious Minerals Limited, where he witnessed the developments of the plant including trial production which started on April 21, 2021.
“The envisaged dream for Tanzania to stop exporting raw gold is certainly coming true,” Prof Luoga said.
The BoT Governor expressed delight to hear that the refinery is also capable of extracting other valuable minerals from the gold concentrates.
“Given the production capacity of this plant, I believe that it will be able to refine all locally mined gold as well as those from neighbouring countries. The final product will bear the originality mark from Tanzania, and hence promote Tanzania overseas,” the Governor said.
Mwanza Precious Minerals Limited is jointly owned by Stamico (25 per cent) and two foreign companies, ROZZELA General LLC of Dubai in the United Arab Emirates (UAE) and ACME Consultant Engineers PTE Limited from Singapore (RGTACE), which jointly own 75 per cent.
Acting Managing Director of Stamico Dr Venance Mwasse told Governor Luoga that the joint venture and the shares owned by Stamico will continue increasing at the rate of 5 per cent and after 15 years, the state-owned mining company will have 51 per cent shares reducing those of foreign companies to 49 per cent.
Stamico will also be getting 2.5 per cent from total sales as management fee.
The refinery started trial operations on April 21, 2021. It can refine 480 kilogrammes per day at the 999.9 purity and becomes one of the biggest gold plants in Africa.
Dr Mwasse mentioned the benefits of the refinery as including increased revenue to government through inspection fees, local government levies, generation of employment, technology transfer and reduction of gold smuggling.
Also, other minerals could be extracted and given value and BoT will be able to start keeping gold as one of its reserves as provided for by the laws of the land. Governor Luoga was accompanied by other BoT officials.
The refinery is strategically located in the gold-rich zone as the precious metal is found in Geita, Mara, Shinyanga and Mwanza regions. The plant is expected to refine gold from small scale and corporate gold miners and those from neighbouring countries through gold dealers.
Tanzania starts refining gold to international standards
Mwanza. Bank of Tanzania Governor Prof Florens Luoga has commended the State Mining Corporation (Stamico) for enabling Tanzania start refining gold to international standards, urging the refinery...www.thecitizen.co.tz
Kitombile
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Usibishane na mandazi utapoteza muda wako ukweli wanaujua kabisaa,kama mtu anabishana na statistics za NBS yanini upoteze muda, nilishawaambia arusha inaitaji miaka zaidi ya 50 kuifikia The great Mwanza city.
Kitombile
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Acha upimbi wewe, hayo ni mapato ya halmashauri tu.
Kitombile
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Wanataka Arusha iwe ya kwanza kabisa ebu tuipe namba moja arusha.
Kitombile
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🤣🤣🤣 nimecheka kilofa ***** 😂😂😂😂😂
Kitombile
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Unafikiri kwa kichwa chako arusha inaweza kubattle na Mwanza city, nataka kuanzisha thread ya arusha vs njombe mji au unasemaje we lodi lofa.
Kitombile
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Huu mji unafanana sana na manyara.
Opportunity Cost
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How much?
dopchinski
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kali sana!
Dpresident tz
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Tumeishawapa hawa watu wanawivu sana utadhani Mwanza ni mtoto wa mama wakambo.Tokea 2021 ndo jiji la pili baada ya Dar ili nawao wafurahi kidogo.😂😂😂😂
Mapank
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Kiwanda ndio kimeanza kazi, kaa usubirie report za Ummy Mwalimu. Ilemela hatuna migodi ya dhahabu ila tuna export gold bars [emoji2][emoji2][emoji2]
Geza Ulole
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- Oct 31, 2009
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