Tanzania Gold
Transworld Resources has agreed to invest in and partner with two part foreign owned small mining enterprises located in different regions of N.E Tanzania (TZMines). In order to accommodate this investment and also to provision and commission a dedicated regional gold processing plant (Gold Processing), Transworld Resources is creating a Tanzanian subsidiary based in Dar es Salaam that will hold a significant minority interest in the TZ Mines in turn a majority interest in the Gold Processing.
This planned investment and participation by Transworld Resources in the Tanzanian gold sector carries with it an initial commitment of >US$25m and evidences the company's desire to work within what is the 4th largest gold producer in Africa and country that it believes has the best organised and well regulated gold sector in East Africa, where Transworld Resources can bring to regional artisanal mining operations and processing the socio economic benefits of local Processing and fair trading, along with good employment ethics and working conditions in line with ARM and the Fairmined program.
Transworld Resources looks forward to working closely with its Tanzanian partners in making a great success of the venture and laying the ground for responsible gold mining in the regions in which it will be operating and educating other indigenous small mining operations in the benefit of fair trading, good operating and employment practices leading to positive local socio economic outcomes