The Chairman of the Board of Directors of the National Mining Corporation (STAMICO), Ambassador Simon Sirro, has praised the progress made by STAMICO and reaffirmed the government’s commitment to investing in the STAMIGOLD gold mine.
Speaking during a visit to the mine in Biharamulo District, Kagera Region, Ambassador Sirro inspected ongoing operations and held discussions with the management and staff of the mine, which is owned and managed by STAMICO.
“The Board is fully committed to supporting STAMIGOLD through effective management to increase production and boost efficiency,” said Sirro.
He noted that since its inception in 2013, the mine has made remarkable progress toward self-sufficiency, managing operations, including procurement, without relying on government funds.
Sirro also urged the mine to continue conducting geological research to identify new areas suitable for mining, expand investment, and enhance revenue generation. He emphasized the importance of strict financial discipline among officials managing the mine.
Acting STAMICO Chief Executive Officer Deusdedith Magala said the mine has launched new projects in three exploration areas expected to increase gold production.
“We expect to produce 8,000 ounces of gold by June 2026. This achievement will significantly contribute to the mine’s economic growth,” Magala stated.
He added that STAMIGOLD plans to explore previously untapped licenses to extend the mine’s lifespan from five to over ten years.
STAMIGOLD General Manager Ali Said confirmed that the mine currently employs 613 workers, all working diligently to enhance the mine’s revenue.
Since 2013, the mine has contributed around TZS 56 billion to the government, with ongoing efforts to ensure the investment benefits Tanzanians.
Ali assured the STAMICO Board that addressing existing operational challenges will help increase monthly gold production from the current average of 30 kilograms.