Buckreef gold project, Tanzania
Name of the Project
Buckreef gold project.
Location
Geita district, in the Lake Victoria greenstone belt, in central Tanzania.
Client
Tanzanian Royalty Exploration Corporation.
Project Description
The project has proven and probable reserves of 19-million tonnes grading 1.54 g/t of gold.
A prefeasibility study (PFS) has determined that the mineral reserves at the Buckreef project can support a 1.5-million-tonne-a-year mine for 16 years.
The ore material will be mined from the four openpits and then sent for processing at a plant located at Buckreef designed to achieve gold recovery of 92.3% and 85% for the oxides and sulphides material respectively over the life of the project. Over the estimated life of the mine about 822 000 oz of gold is expected to be produced.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has an estimated after-tax net present value, at a 5% discount rate, of $130.96-million and an internal rate of return of 74%, with a payback of four years.
Value
The project’s estimated initial capital outlay for the earthmoving equipment, processing plant and related infrastructure will be $76.5-million, which includes a 15% contingency.
Duration
Not stated.
Latest Developments
The company plans to conduct additional drilling and analysis to not only upgrade inferred resources into higher categories but also further define the prospects at depth.
Key Contracts and Suppliers
Virimai Projects (PFS).
On Budget and on Time?
Not stated.
Contact Details for Project Information
Tanzanian Royalty Exploration Corporation, email investors@tanzanianroyalty.com.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...
VISIT SHOWROOM
Industrial Nozzles & Systems (Pty) Ltd (Est. 2000) exclusive representative in Southern Africa for LECHLER GmbH (Est. 1879) - Europe's leading...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
