The Latest

New Luika Gold Mine Finds Increased Indicated Mineral Resource

January 20, 2014
1 minute read

A new Mineral Resource Estimate and Ore Reserve has shown that there is potential for an additional five years of life at the New Luika gold mine.

New Luika gold mine is located in the Mbeya region, Southwest Tanzania and is fully owned by Shanta Gold mining company.

Shanta Gold focuses on gold production and exploration in East Africa and is listed on the London Stock Exchange (AIM) with ticker symbol SHG.

According to the company’s statement in-situ Indicated Mineral Resource for New Luika increased by 9% to 692Koz with an average grade of 5.5g/t.

The company also indicates that there is a strong potential for underground mining at the mine with the possibility of a five year life extension.

Shanta’s CEO, Mike Houston, announced that the finding was part of an ongoing effort to optimize the life of the mine at New Luika and help gain an understanding for other potential targets.

Gold represents an important part of the Tanzanian economy with gold production of roughly 40 tonnes a year and gold exports valued at USD 1.86 billion for the year ending August 2013.

Tanzania is the 4th largest gold producer in Africa after South Africa, Ghana and Mali.

 

Want to know more about Mining in Tanzania? Our free Tanzania Business and Investment Guide 2026 covers Mining, plus regulations, key sectors, and investment opportunities — all in one place.

Download Free Guide
Tweet
Share
Share
Share
Related Posts
Tanzania mineral processing
Read More

Tanzania to Build Mineral Processing Center in Shinyanga to Boost Value Addition

The Tanzanian government plans to establish a Mineral Processing Center in Mwakitolyo, Shinyanga Region, to deepen mineral value addition and expand local participation in the mineral value chain. Deputy Minister for Minerals Dr. Steven Kiruswa highlighted the initiative in Parliament, emphasizing the need to build technical capacity among youth and women from exploration to processing.
Tanzania Mahenge Graphite Project Map
Read More

Tanzania Mahenge Graphite Project Early Works to Complete by Mid-2026 Ahead of Final Investment Decision

Black Rock Mining's early works program at the Mahenge Graphite Project in Tanzania's Ulanga region is nearing completion, with final earthworks and resettlement activities expected to wrap up by late Q2 2026. Community compensation for the lower access road has been completed, the 220kV transmission line survey is finished, and all early works pricing has been validated against the 2022 FEED, positioning the project for a rapid construction ramp-up once full funding and a Final Investment Decision are secured.
Tanzania Panda Hill Niobium Agreement Signing
Read More

Tanzania Signs Niobium Project Agreement Targeting 4% of Global Output

The Government of Tanzania and Panda Hill Tanzania Limited have officially signed an agreement to advance the Panda Hill niobium project in Mbeya. The deal formalizes government participation through a 16% free carried interest, positions Tanzania to contribute 4% of global niobium supply, and includes the construction of a ferroniobium plant, local value addition, and thousands of jobs over the project’s life.