STAMICO Board Pledges Continued Investment in STAMIGOLD Mine




📍 Biharamulo

The Chairperson of the Board of Directors of the National Mining Corporation (STAMICO), Ambassador Simon Sirro, has expressed his satisfaction with the performance of STAMICO and pledged that the government will continue investing in the STAMIGOLD mine.

Ambassador Sirro made the remarks during his visit and inspection of the STAMIGOLD mine located in Biharamulo District, Kagera Region, where he later held discussions with the management and staff of the mine, which is owned and operated by STAMICO.

He stated that the Board is fully committed to overseeing the mine through STAMICO’s management to ensure increased production and greater returns.

Sirro acknowledged that since its establishment in 2013, STAMIGOLD has made significant progress in becoming self-reliant, particularly in managing its operations, including procurement, without depending on the Treasury.

He further directed STAMIGOLD to intensify exploration activities to identify new potential mining areas, expand investment scope, and achieve revenue growth targets.

The Chairperson also emphasized the importance of financial discipline in the use of public funds by officials entrusted with various leadership and management responsibilities at the mine.

The Acting Managing Director of STAMICO, Deusdedith Magala, said STAMIGOLD has already launched new projects in three mining areas expected to boost production.

“In the next four months, up to June 2026, we expect to produce 8,000 ounces of gold. We believe this will help our STAMIGOLD mine make significant economic progress,” he said.

He also noted that STAMIGOLD plans to conduct exploration on licenses that have not yet been developed, aiming to extend the mine’s lifespan from the projected five years to more than ten years.

The General Manager of STAMIGOLD, Ali Said, stated that the mine currently employs 613 workers who are committed to fulfilling their responsibilities to increase revenue.

He added that since 2013, STAMIGOLD has contributed TZS 56 billion to the government, and efforts continue to ensure that the investment benefits Tanzanians.

Ali assured the STAMICO Board of Directors that resolving existing challenges will increase gold production from the current average of 30 kilograms per month.

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