East Africa-focused gold producer Shanta Gold (AIM: SHG), recently published an update for its New Luika Gold Mine in South Western Tanzania, indicating a considerable increase in...estimated reserves and resources. New resources and reserves estimated following drilling program for the 6 months from 1 April 2019 to 30 September 2019, added new probable gold reserves totaling 135,438 ounces grading 4.07g/t Au at these Newly Drilled Targets.
This results in indicated resources of 219,408 ounces grading 3.19 g/t (inclusive of the abovementioned reserves and the 83,543 ounces already announced on 15 July 2019) up 219% from 57,916 ounces grading 1.77 g/t at end-December 2017.
In addition, new inferred resources of 94,007 ounces grading 2.75 g/t up 26% from 74,427 ounces grading 1.71 g/t have been estimated at the Newly Drilled Targets, with further drilling planned to prove this up. Eric Zurrin, Chief Executive Officer, commented:
“The Company is pleased to announce a significant increase in reserves and resources at the Newly Drilled Targets that was completed in September. We have high expectations that the targets will continue to grow both in size and number as we look to add to our mine life at New Luika.” Since 30 September 2019, drilling has been ongoing on the Mining Licences and across other regional targets in the Lupa Goldfield and approximately 4,000 meters of exploration drilling is planned for Q4 2019.
The nex exploration update is expected before year-end 2019 with a consolidated reserves and resources statement expected in Q1 2020. Tanzania Gold Tanzania gold reserves are estimated at about 45m ounces (oz). Gold exploration has been centered mostly on the greenstone belts around Lake Victoria, where several large deposits have already been discovered and are being developed.
Tanzania Small Medium
EnterprisesTanzania Small and Medium Enterprises
95% of the businesses in Tanzania are Small and Medium Enterprises
(SMEs), and they represent about 35% of the country’s GDP, according to
the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA).
In December 2016, the African Development Bank (AfDB) approved a USD120m
Line of Credit (LOC) to Tanzania to finance infrastructure and SME
projects.
The LOC is allocated to CRDB, the largest commercial bank in Tanzania,
which supports various sectors such as power, manufacturing,
agriculture, and SMEs.
By leveraging CRDB’s branch network and agents, the LOC will increase
lending to SMEs and women enterprises in both urban and rural areas to
create more jobs and to promote inclusive growth for Tanzania’s economy,
the AfDB indicates.
In September 2016, Tanzania officially launched the Tanzania
Entrepreneurship and Competitiveness Centre (TECC) to promote
entrepreneurial innovation and competitiveness in the country.
TECC aims to promote entrepreneurship and competitiveness in SMEs in
Tanzania through:
– Skills development in entrepreneurship, innovation and competitiveness
– Promoting local economic development using the triple helix cluster
approach (university-industry-government relationships for innovation)
– Providing business intelligence through studies and advisory services
Jenista Mhagama, Minister of State in Tanzania’s Prime Minister’s Office
responsible for Policy, Parliamentary Affairs, Labor, Employment, Youth
and the Disabled, said that the Government supports the private sector
in SMEs promotion and urged companies and institutions to assist TECC.
AfDB CRDB Tanzania Credit
Tanzania Economy December 4, 2016
AfDB Lend USD120m to Tanzania to Support Infrastructure and SMEs
The African Development Bank (AfDB) approved a USD120m Line of Credit
(LOC) to Tanzania to finance infrastructure and Small and Medium
Enterprise (SME) projects.
Tanzania entrepreneurship competitiveness centre
Tanzania Economy September 15, 2016
Tanzania Entrepreneurship and Competitiveness Centre Officially Launched
Tanzania officially launched the Tanzania Entrepreneurship and
Competitiveness Centre (TECC) to promote entrepreneurial innovation and
competitiveness in the country.
afdb tanzania credit
Tanzania Economy May 25, 2016
AfDB Approve USD120m Credit to Support Infrastructure and SMEs in
Tanzania
The African Development Bank (AfDB) approved a USD120m Line of Credit
(LOC) for Tanzania to finance infrastructure and SME projects. The LOC
is allocated to…
Read more at: https://www.tanzaniainvest.com/sme and follow us on www.twitter.com/tanzaniainvestTanzania Small Medium EnterprisesTanzania Small and Medium Enterprises 95% of the businesses in Tanzania are Small and Medium Enterprises (SMEs), and they represent about 35% of the country’s GDP, according to the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA). In December 2016, the African Development Bank (AfDB) approved a USD120m Line of Credit (LOC) to Tanzania to finance infrastructure and SME projects. The LOC is allocated to CRDB, the largest commercial bank in Tanzania, which supports various sectors such as power, manufacturing, agriculture, and SMEs. By leveraging CRDB’s branch network and agents, the LOC will increase lending to SMEs and women enterprises in both urban and rural areas to create more jobs and to promote inclusive growth for Tanzania’s economy, the AfDB indicates. In September 2016, Tanzania officially launched the Tanzania Entrepreneurship and Competitiveness Centre (TECC) to promote entrepreneurial innovation and competitiveness in the country. TECC aims to promote entrepreneurship and competitiveness in SMEs in Tanzania through: – Skills development in entrepreneurship, innovation and competitiveness – Promoting local economic development using the triple helix cluster approach (university-industry-government relationships for innovation) – Providing business intelligence through studies and advisory services Jenista Mhagama, Minister of State in Tanzania’s Prime Minister’s Office responsible for Policy, Parliamentary Affairs, Labor, Employment, Youth and the Disabled, said that the Government supports the private sector in SMEs promotion and urged companies and institutions to assist TECC. AfDB CRDB Tanzania Credit Tanzania Economy December 4, 2016 AfDB Lend USD120m to Tanzania to Support Infrastructure and SMEs The African Development Bank (AfDB) approved a USD120m Line of Credit (LOC) to Tanzania to finance infrastructure and Small and Medium Enterprise (SME) projects. Tanzania entrepreneurship competitiveness centre Tanzania Economy September 15, 2016 Tanzania Entrepreneurship and Competitiveness Centre Officially Launched Tanzania officially launched the Tanzania Entrepreneurship and Competitiveness Centre (TECC) to promote entrepreneurial innovation and competitiveness in the country. afdb tanzania credit Tanzania Economy May 25, 2016 AfDB Approve USD120m Credit to Support Infrastructure and SMEs in Tanzania The African Development Bank (AfDB) approved a USD120m Line of Credit (LOC) for Tanzania to finance infrastructure and SME projects. The LOC is allocated to… Read more at: https://www.tanzaniainvest.com/sme and follow us on www.twitter.com/tanzaniainvest
Read more at: https://www.tanzaniainvest.com/sme and follow us on www.twitter.com/tanzaniainvestTanzania Small Medium EnterprisesTanzania Small and Medium Enterprises 95% of the businesses in Tanzania are Small and Medium Enterprises (SMEs), and they represent about 35% of the country’s GDP, according to the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA). In December 2016, the African Development Bank (AfDB) approved a USD120m Line of Credit (LOC) to Tanzania to finance infrastructure and SME projects. The LOC is allocated to CRDB, the largest commercial bank in Tanzania, which supports various sectors such as power, manufacturing, agriculture, and SMEs. By leveraging CRDB’s branch network and agents, the LOC will increase lending to SMEs and women enterprises in both urban and rural areas to create more jobs and to promote inclusive growth for Tanzania’s economy, the AfDB indicates. In September 2016, Tanzania officially launched the Tanzania Entrepreneurship and Competitiveness Centre (TECC) to promote entrepreneurial innovation and competitiveness in the country. TECC aims to promote entrepreneurship and competitiveness in SMEs in Tanzania through: – Skills development in entrepreneurship, innovation and competitiveness – Promoting local economic development using the triple helix cluster approach (university-industry-government relationships for innovation) – Providing business intelligence through studies and advisory services Jenista Mhagama, Minister of State in Tanzania’s Prime Minister’s Office responsible for Policy, Parliamentary Affairs, Labor, Employment, Youth and the Disabled, said that the Government supports the private sector in SMEs promotion and urged companies and institutions to assist TECC. AfDB CRDB Tanzania Credit Tanzania Economy December 4, 2016 AfDB Lend USD120m to Tanzania to Support Infrastructure and SMEs The African Development Bank (AfDB) approved a USD120m Line of Credit (LOC) to Tanzania to finance infrastructure and Small and Medium Enterprise (SME) projects. Tanzania entrepreneurship competitiveness centre Tanzania Economy September 15, 2016 Tanzania Entrepreneurship and Competitiveness Centre Officially Launched Tanzania officially launched the Tanzania Entrepreneurship and Competitiveness Centre (TECC) to promote entrepreneurial innovation and competitiveness in the country. afdb tanzania credit Tanzania Economy May 25, 2016 AfDB Approve USD120m Credit to Support Infrastructure and SMEs in Tanzania The African Development Bank (AfDB) approved a USD120m Line of Credit (LOC) for Tanzania to finance infrastructure and SME projects. The LOC is allocated to… Read more at: https://www.tanzaniainvest.com/sme and follow us on www.twitter.com/tanzaniainvest
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