Dodoma. President Samia Suluhu Hassan met with the leadership of Perseus Mining Limited on Wednesday May 6, 2026 at the Chamwino State House to review the progress of the Nyanzaga Gold Mine.
The delegation, led by Chairman Rick Menell and board member Professor Raphael Chibunda, briefed the President on the project’s transition into the full construction phase.
This mine located in the Sengerema District of the Mwanza Region involves a total investment of $523 million.
It marks the first major new gold mine to be established in Tanzania in approximately 20 years.
Operations are managed by Sotta Mining Corporation Limited, a joint venture where Perseus Mining Limited holds an 80 percent stake and the government of Tanzania retains 20 percent ownership.
Production is officially scheduled to commence in the first quarter of 2027.
Mineral reserves at the site have seen a substantial upgrade.
As of February 2026, estimated reserves rose to 4.0 million ounces, marking a 73 percent increase from the initial 2.3 million ounces.
This discovery extends the projected lifespan of the mine to 16 years.
The facility aims for an average annual output of 200,000 ounces, with a peak production target of 250,000 ounces anticipated in 2028.
Preparatory works are currently in full swing. A permanent staff camp is expected to be finished by mid-2026.
Furthermore, the construction of replacement housing for local residents affected by the project is nearing completion under a formal relocation and compensation scheme.
These infrastructure developments signal a robust commitment to the project’s timeline.
President Samia praised the investment as a testament to the strengthening of the mining sector.
She said the project must deliver direct benefits to Tanzanians through employment and local procurement.
The President also directed investment-related institutions to resolve investor challenges swiftly to maintain a competitive business environment.
In response, Perseus Mining Limited commended the government’s efforts to improve the investment climate and pledged to introduce advanced technology to the local production chain.
