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Tanzania's 280-Million-US Dollar Gold Mine to Start Operation
A gold mine in Tanzania with an investment of US$280 million is to start production in April this year, the mine's management said Friday.
The Kahama Mining Corporation Limited, located in Kahama District in Tanzania's central Shinyanga region, will be the country's biggest underground gold mine with a capacity to process 2,500 tons of gold-containing ore daily.
The mine, a subsidiary of Barrick Gold Corporation Limited of Canada, is expected to purify 400,000 ounces of gold every year.
The mine is expected to create some US$65 million in taxes and royalties for the Tanzanian government during the initial five years, not to mention the abundant employment opportunities generated.
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