Shanta Gold begins gold production at New Luika
Tanzania focused gold miner Shanta Gold has begun gold production operations from its plant at the New Luika Gold Mine in south western Tanzania, prompting a jump in the share price.
Tanzania focused gold miner Shanta Gold has begun gold production operations from its plant at the New Luika Gold Mine in south western Tanzania, prompting a jump in the share price.
The first gold pour is on track to take place before the end of this month now that the final stages of processing have been completed.
Shanta said it expects between 13,000-17,500 ounces of gold to be produced in the final quarter of the calander year.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In a statement, Chairman Walton Imrie commented: "We are delighted to have achieved the historic milestone of gold production at New Luika, which establishes Shanta Gold as the newest emerging gold producer in Tanzania. Full commissioning of the plant has taken place without any major issues, which speaks to the quality and the efforts of the operational team at the mine.
"Looking to the future Shanta Gold is now well placed to grow through increasing production at New Luika which is underpinned by the recent increase in high grade resources at the mine. The GBG JV affords the possibility of other exciting, high grade, low capital intensity projects in the Lupa Goldfields."
The share price rose 5% to 28.88p by 09:06.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Michelin Key Hotels 2025: the top destinations in the world
The Michelin Keys have been awarded to spectacular hotels across the world. From Marlon Brando's private resort in Polynesia to a Bvlgari hotel in Tokyo, we look at some of the most extraordinary stays in 2025
-
MoneyWeek news quiz: How much could you get in car finance compensation?
The car finance scandal, inheritance tax, and house prices all made headlines over the past few days. Test your knowledge while reviewing this week’s top stories with MoneyWeek’s news quiz