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Tanzania

New Luika Mine

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New Luika Mine

Location: 24 km NW from Kanga, Tanzania

Regional Office:

1st Floor, Horizon Building Plot No. 157, Haile Selassie Road Oysterbay
Dar es Salaam
Tanzania

Contacts:

Additional Resources for Suppliers & Investors

Categories

Summary

Mine TypeOpen Pit & Underground
StatusActive
Commodities
  • Gold
  • Silver
Mining Method
  • Truck & Shovel / Loader
  • Longhole open stoping
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Mine Life... Lock
SnapshotNew Luika is the 4th largest gold mine in Tanzania.

A portion of energy supply at New Luika is generated from a renewable source on-site.

New Luika has maintained its reputation as one of the safest gold mining operations of its peers.

Owners

SourceSource
CompanyInterestOwnership
ETC Holdings Ltd. 100 % Indirect
On 20 December 2023, the boards of directors of Shanta Gold Limited and Saturn Resources Ltd (Bidco), a wholly-owned subsidiary of ETC Holdings (Mauritius) Limited (ETC Holdings), made an announcement that they had reached agreement, pursuant to which Bidco will acquire the entire issued, and to be issued, share capital of Shanta not already owned by any member of the Bidco Group. It is intended that the Acquisition will be implemented by way of a Court-sanctioned scheme of arrangement.

On 8 May 2024, the board of Shanta Gold Limited announced that the Court had sanctioned the Scheme.

On 10 May 2024, Shanta and Saturn Resources Ltd (Bidco) are announced that the Scheme has now become Effective in accordance with its terms and the Scheme Shares are now owned by Bidco, and the entire issued share capital of Shanta is owned by the Bidco Group.

New Luika Gold Mine is 100% owned Shanta Gold.

Contractors

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SourceSource

Deposit type

  • Vein / narrow vein

Summary:

The ore bodies at New Luika comprise high grade (>6g/t Au), medium grade (3 – 6 g/t Au) and low grade (1 – 3 g/t Au) to average 3.9g/t Au.

The regional geology is characterised by deformed, folded, sheared and metamorphosed paleoproterozoic rocks with major fold axes trending east southeast to west northwest. The following main lithological units occur in the region:

Ilunga Granite Formation
The Ilunga Granite is located in the northern portion of the Lupa Goldfield and is mostly comprised of a medium to coarse grained leucogranite (aplogranite). Biotite and muscovite are commonly associated secondary minerals.

Saza Granite Formation
The Saza Granite is located in the central portion of the Lupa Goldfield and consists of numerous rock types including hornblende rich granites and hornblende-biotite rich granodiorites.

Gneiss Formation
The Gneiss Formation, the main ore bearing host, is the dominant rock unit within the Lupa Goldfield. The Gneiss Formation has been subjected to at least three granitic intrusive events that have given rise to a variety of rock types such as felsitic gneiss, biotite and hornblende granite gneiss, leucocratic granular gneiss. Diorite, granodiorite and granite rocks are evident within the Gneiss Formation.

Mineralised quartz veined targets are hosted within brittle-ductile to ductile deformational features of variable orientation.

Underlain by a complex association of high grade metamorphic- and intrusive lithologies, commonly intruded by dykes of variable composition. Modally, granodioritic and granitic lithologies are most commonly encountered.

These granodiorites and granites have been interpreted as late orogenic intrusive phases associated with gold mineralisation in the area. Subordinate diorite, porphyroblastic hornblende gabbro, quartzo-feldspathic felsite and migmatite are also regularly observed.

Dyke intrusives include dolerite, pegmatite and common aplite and alaskite, seemingly randomly crosscutting major lithologies, and therefore regarded as younger than the country rock.

Reserves

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Mining Methods

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Heavy Mobile Equipment

Fleet data has not been reported.

Comminution

Crushers and Mills

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Processing

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Commodity Production

CommodityUnits2024202320222021202020192018201720162015
Gold oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe84,506 81,872 79,585 87,713 81,873 
Silver oz  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe90,541106,851106,238126,572121,682
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.

Operational metrics

Metrics202320222021202020192018201720162015
Ore tonnes mined  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe603,373 t677,734 t536,669 t615,432 t478,144 t
Tonnes milled  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe702,336 t639,678 t632,287 t597,583 t563,619 t
Daily milling capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
Annual milling capacity  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe
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Production Costs

CommodityUnits2024202220212020201920182017
Cash costs Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 544 / oz   538 / oz  
All-in sustaining costs (AISC) Gold USD  ....  Subscribe  ....  Subscribe  ....  Subscribe  ....  Subscribe 777 / oz   730 / oz   743 / oz  
^ Guidance / Forecast.

Mine Financials

Units202220212020201920182017
Capital expenditures M USD  ....  Subscribe 17.3   18.1   37.9  
Revenue M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 112.8   103.8   103.4  
Operating Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe 5.1   19.3   11  
Gross profit M USD 14.4   27.2   19.3  
Pre-tax Income M USD -1.2   13.1   3.6  
After-tax Income M USD  ....  Subscribe  ....  Subscribe  ....  Subscribe -9.5   8   4.2  
EBITDA M USD 47.7   45.7   37.7  
Operating Cash Flow M USD 37.6   31  

Personnel

Mine Management

Job TitleNameProfileRef. Date
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Workforce

EmployeesContractorsTotal WorkforceYear
...... Subscription required 2023
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...... Subscription required ...... Subscription required ...... Subscription required 2017

Aerial view:

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