Tanzanian Royalty Exploration has locked in a deal with the Tanzanian government on Tuesday. The agreement will be the foundation for a $280 million dollar gold mine and is part of the Buckreef Gold Re-development Project.
DAR ES SALAAM (Reuters) -
Tanzanian Royalty Exploration (TNX.TO), a Toronto-listed metals
explorer, on Tuesday signed a joint venture agreement with the Tanzanian
government to develop a $280 million gold mine in the east African
country.
The deal involves the Buckreef Gold Mine Re-Development Project
in Africa's fourth-largest gold producer, where Tanzanian Royalty,
through its Tanzanian unit, TANZAM 2000, owns a 55 percent stake in the
mine.
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