Caracal granted mining licence for Tanzania project
London-listed Caracal Gold has been granted a mining licence for the Kanegele project, in Tanzania.
Following the formal application of two mining licences submitted in December 2023, Caracal subsidiary Tyacks Gold has successfully secured the first mining licence for the Kanegele project, located within the Nyakafuru project area.
The company says the Kanegele project, located in the prolific Lake Victoria Gold Fields, is well-positioned just 140 km south-west of Mwanza, Tanzania's second-largest city and benefits from established infrastructure.
KANEGELE PROJECT OVERVIEW
The Kanegele project boasts four main deposits – Voyager, Mentelle, Cullen and Leeuwin – covering a Joint Ore Reserve Committee- (Jorc-) compliant resource of 658 000 oz.
Caracal says substantial historical mining, feasibility studies and infrastructure work are already in place, positioning Kanegele for rapid advancement as an openpit, carbon-in-leach (CIL) gold operation.
The company notes that immediate next steps include additional drilling to expand resources; updating Jorc resource and reserve estimates; advancing pit optimisation studies; undertaking metallurgical, geotechnical, and environmental studies to international standards for project financing; finalising detailed engineering development plans for the processing plant; and site preparation and commencement of mine construction.
"Securing the mining licence for the Kanegele project is a pivotal milestone in our broader strategy to bring this high-potential asset into production. With shallow, high-grade gold resources and robust historical work already completed, Kanegele ticks all the right boxes for development,” says Caracal chairperson Simon Grant-Rennick.
Comments
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