History

The activity of the company Tanganyika Gold S.A.    was began in 2013, when authorizations have been granted within the Burundian mining sector and the company acquired exploration permits. Tanganyika Gold S.A.    -financed company holds the Mabayi concession in the northwestern corner of the country (with concession area is 420 sq. meters), in Cibitoke province, to explore gold and associated minerals.The commune of Mabayi is known for its plains and hills that are full of gold. It has always been the object of numerous studies carried out by different organizations, but unfortunately none of its studies has been carried out to the end. With the arrival of the company Tanganyika Gold S.A. work continued, and already there are good results.

Tanganyika Gold S.A.    has invested in infrastructure, including in social infrastructure such as schools, water reticulation, bridges and roads.

In June 2017 the first completed stage of the geological research discovered about 20 gold ore bodies at the Mabayi research perimeter.

In September 2017 Tanganyika Gold S.A. signed contract with the government to establish joint venture entity with the structure of 85%/15% Tanganyika gold/State of Burundi and received 25 year mining permission.

First phase of production scheduled in the beginning of 2018

On the 31th of October 2017 the first mining open cast so called “Chimba” was officially launched by the President of Burundi republic Mr. Pierre Nkurunziza. From this point, SPV “Tanganyika Mining Burundi” SM began industrial exploitation of gold and associated metals in Mabai commune (Cibitoke province).

Besides the president, other high-ranking guests were also present at the opening ceremony, such as the minister of Enegry and mines, the governor of Cibitoke province, senators and other officials. On top of it the opening ceremony brought a lot of attention of local population. At this day thousands people came to watch and listen speeches from the Minister, Director of Tanganyika gold, Cibitoke Governor and personally from the President of Burundi republic about establishing of industrial mining as well as commune developing plans. 

When the mining permit was granted Company immediately initiated work on site. “We are moving according the schedule and we are planning to have first product on the beginning of 2018, then within 2018 we are going to build up our throughput capacity to 50 tons of ore per hour, and then after implementing cyanidation cycle we should be able to achieve our first goal of having 24.000 Oz/year production rate. It will give us the opportunity to expand production level up to 80.000-100.000 Oz per year during 2019-2020”-Saying C.E.O of “Tanganyika gold” Aleksey Kuvshinov.