KAGERA residents and other Tanzanians have a reason to smile following the government’s efforts that enabled Stamigold Biharamulo Mine (SBM) to be connected to the national power grid.
Biharamulo District Commissioner, Assistant Commissioner (ACP) Advera Bulimba, who was the chief guest at the launching ceremony, invited investors both local and foreign, to capitalise on the conducive investment climate to establish industries, Five Star hotels and large-scale agricultural farming.
“The government under President Samia Suluhu Hassan is determined to achieve industrial economy by 2025 through agricultural revolution. Electricity power is a catapult which Tanzanians should utilise by establishing medium and large industries,” she said.
Elaborating, she tipped the residents of Kagera, Geita and Kigoma regions, as well as other Tanzanians to grab the attractive investment opportunities, which come with its implementation, especially to increase production of cash and food crops to enable the nation to get raw materials needed in the industrial drive.
The region is directly bordering three East African Community (EAC) countries – Uganda, Rwanda and Burundi while Kenya can also be reached through Lake Vitoria.
The region is also a gateway to South Sudan and the Democratic Republic of Congo (DRC), with a combined market of around 300tril/-. This is a big opportunity to increase our trade relations, she hinted.
Tanzania Electricity Supply Company (TANESCO), Kagera Regional Manager, Engineer Godlove Mathayo informed the DC that the project cost a total of 15.9bn/- upon completion.
He explained that the project started in August 2020 and was finally completed on April 20th, this year while SBM started utilising the national grid on April 26th, this year.
During his recent visit at Stamigold Biharamulo Mine (SBM), Minerals Minister Dr Dotto Biteko assured the mine that it would be connected to the national grid before the end of May, this year.
He commended SBM Board of Directors and the Management for the efforts being taken to improve the mine performance and assured them of government support.
Stamigold Biharamulo Mine (SBM) General Manager, Engineer Gilay Shamika, on his side, appealed for government intervention to link the mine on the national grid, adding that the mine was spending millions of shillings to buy at least 12,000 litres of diesel daily for running the processing plant.
“SBM was spending huge amount almost 1bn/- every month on buying diesel for running the eight generators. By getting reliable electricity the gold mine would increase production and cut down operational costs by saving at least 700m/- each month, while also increasing job opportunities and pay more royalty to the government,” he said.
He explained that the Mine was recording impressive achievements, adding that SBM earned a total of US dollars 21,454,119 (about 49.660bn/-) between July 2020 to May 2021 from Gold and Silver minerals sold on the market.
“Between July, 2020 to May, 2021 at least 11,534.99 Ounces of Gold and 2,131.23 Ounces of Silver were produced and sold on the market, earning the nation about US dollars 21,454,119.04 (approximately 49.9bn/-),” he said.
Elaborating, he said from the minerals sales SMB also managed to pay government royalty amounting 3,481,067,271/- and Servive Levy amounting 148,509,374/-.
According to Engineer Shamika, between May, 2019 to June, 2020 the Mine produced at least 12,172.29 Ounces of Gold and 1,711.14 Ounces of Silver which earned the nation US dollars 19,213,549 (approx. 43.6bn/-).
Elaborating, he said a recent grassroots survey conducted by SBM in collaboration with the Geological Survey of Tanzania (GST), revealed that there was a big chunk of gold deposits capable of producing over 85,663 Ounces of Gold.
He disclosed that following a Value for Money Audit and Investigation report SBM had managed to repay at least 19.643bn/-(about 43.8 per cent) from a long-standing loan amounting 42.484bn/-.
