Shanta Gold

(Ecofin Agency) – In Tanzania, the company Shanta Gold produces gold only at its New Luika mine, but has another gold asset, Singida, where it plans to start production in 2023.

Stanbic Bank Tanzania, the Tanzanian subsidiary of the South African bank Standard Bank, has just granted the mining company Shanta Gold a loan worth 20 million dollars to advance its mining operations in East Africa. The funds will primarily be used to support the ongoing construction of the Singida gold mine.

“The signing of this 4-year, $20 million facility is an important milestone for Shanta, as it will enable the company to accelerate growth across its portfolio, particularly on the Singida project”rejoices Eric Zurrin, CEO of the company.

As a reminder, the company’s only producing asset is the New Luika mine in Tanzania, which delivered a total of 11,408 ounces of gold in the first quarter of fiscal 2022. Shanta Gold is currently developing two other projects, Singida, still in Tanzania, and West Kenya in Kenya.

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27/04/2022 – Tanzania: Shanta Gold produces more than 11,000 ounces of gold in the first quarter of 2022

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