New Luika Gold Mine Explained

Luika Gold Mine
Pushpin Map:Tanzania
Pushpin Label:Luika Gold Mine
Pushpin Map Caption:Location in Tanzania
Coordinates:-8.7167°N 50°W
Place:Chunya District
Subdivision Type:Region
State/Province:Mbeya
Country:Tanzania
Owner:Shanta Gold
Financial Year:2015
Amount:81,873 Oz. Gold
Opening Year:2012

The New Luika Gold Mine is an active mine in the Lupa Gold Field, an area of about in south west Tanzania, north of Mbeya, that is known for its gold deposits.[1] It is the principal mine of Shanta Gold[2] and saw its first gold pour in August 2012.[3]

In September 2016 Shanta Gold reported that from its underground exploration efforts, the indicated gold deposits of the mine increased by 409% to 205,000 Oz.[4] This is a big discovery for the company as the company expects to deplet the Luika surface mine by 2020.[5]

External links

Notes and References

  1. http://www.seabgems.com/Lupa%20Gold%20Field.html Lupa Gold Field
  2. http://www.shantagold.com/investors-and-media/fact-sheets/2013/shanta_gold_fact_sheet.pdf Investor Fact Sheet January 2013
  3. http://www.miningweekly.com/article/shanta-gold-signs-30-million-debt-facility-2013-01-10 Shanta Gold signs $30-million debt facility
  4. Web site: Shanta gets big resource upgrade at New Luika gold mine. 2016-09-18.
  5. Web site: Shanta Gold upgrades resource at Ilunga. 2016-09-07. en-US. 2016-09-18.