Buckreef pays 13bn/- as taxes, fees to govt

GEITA: BUCKREEF Gold Mining has paid various taxes and fees to the government worth 13bn/- in three years from its mining operations.

This was unveiled by the State Mining Corporation (STAMICO) to the Parliamentary Standing Committee on Public Investment (PIC) during their visit to Buckreef Gold Mining in the Geita Region recently.

“The taxes and fees paid from 2021 to 2024 have supported the government in providing essential services and infrastructure development, ranging from education and healthcare to transportation and public amenities,” the STAMICO report stated.

Buckreef is owned jointly by the state-owned corporation STAMICO (45 per cent) and TRX Tanzania, a subsidiary of the international corporation TRX Gold (55 per cent).

The report stated that Buckreef Gold Mining operations expanded and so did its contributions to the local community and the government.

The company recognised the importance of being a responsible corporate and made significant efforts to support the socioeconomic development of the region.

The report showed that the impact of Buckreef’s contributions was felt far and wide, as it brought about positive changes in the lives of countless individuals.

The mining company contributed 478m/- through its Corporate Social Responsibility which was spent in building schools and hospitals, ensuring access to quality education and healthcare for the local population.

Further, the CSR funds helped in the construction of roads connecting remote villages to major cities and fostering economic growth.

The mining firm also supported the development of clean water supply systems, providing safe and clean drinking water to communities that had long suffered from scarcity.

Furthermore, recognising the importance of environmental sustainability, Buckreef Gold Mining took great care in implementing responsible mining practices.

The company invested in cutting-edge technologies to minimise its ecological footprint and rehabilitate any land affected by mining activities.

“They embraced reforestation efforts and supported wildlife conservation to preserve the natural beauty and biodiversity of the region,” the report explained.

Moreover, the report said the mining company is empowering local entrepreneurs and fostering job creation in adjacent industries.

“Small businesses thrived, and new employment opportunities emerged, bringing economic stability and hope to the people,” the report stated.

Speaking in an interview, one of the Buckreef shareholders, the TRX Senior Vice President and Managing Director for Tanzania, Mr Khalaf Rashid said TRX has reaffirmed its commitment to continue working closely with the government to ensure the prosperity of gold mining.

“TRX Gold is dedicated to expanding the Buckreef gold project. To achieve this, we have begun talks with our partners, STAMICO and the Government to review and enhance our current agreements, facilitating increased financial and technical investment in the project,” he noted.

He said the legacy of this remarkable mining operation would forever be etched in the annals of Buckreef’s history, reminding future generations of the power of responsible mining and the positive impact it can have on both the Earth and its inhabitants.

He said Buckreef stands as a shining testament to the transformative power of gold mining done right. It serves as a reminder that the pursuit of wealth can coexist harmoniously with environmental preservation, community development, and governmental progress.

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