STAMICO announces plans for three new mines in Tanzania — The Rio Times

Tanzania’s state-owned mining corporation STAMICO has announced plans for three new mines — two gold mines and one graphite mine. As The Rio Times reports, the corporation’s director general, Venans Mwasse, presented these plans to media editors in Dar es Salaam on October 16.

Gold and graphite projects

Exploration is already underway at one of the gold projects — Kigoshi in Bukombe District of the Geita Region in northwestern Tanzania. In February 2026, STAMICO signed a cooperation agreement on the Kigoshi gold licences with South African company Plantcor Mining and Plant Hire.

According to The Citizen, cited by The Rio Times, the graphite mine will be 100% owned by STAMICO. The corporation has also acquired 20 licences for strategic minerals and is seeking partners able to provide capital and technology for large-scale projects. The location of the graphite mine and the name of the second gold project were not disclosed.

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Revenue and existing assets

According to STAMICO, its revenue in the 2025/26 financial year amounted to 147.8 billion Tanzanian shillings, or about $56.2 million. In the 2018/19 financial year, the figure was 1.3 billion shillings, or approximately $0.5 million. Thus, the revenue reported by the corporation increased by about 114 times.

STAMICO currently fully owns three mines: the Biharamulo gold mine, the Kiwira coal mine and the Chigongwe gravel mine. The company has also acquired 18 drilling rigs for geological exploration, built five coal-briquette plants and plans an industrial park in Chigongwe to produce construction aggregates.

STAMICO’s long-term goal is to list on the Dar es Salaam Stock Exchange. According to Mwasse, before that the corporation must strengthen its existing projects, continue reforms and expand its operational capacity.