Leasing firm wins gold mining tender in Tanzania

[Courtesy]

Regional leasing firm, Vehicle and Equipment Leasing Limited (VAELL), will be supplying mining equipment to the second largest mine in Tanzania. Machinery worth $20 million (Sh2.2 billion) have been ordered and about $10 million (Sh1.1 billion) has already been delivered.

In the arrangement, the leasing firm will be equipping Star Planet Consultancy (T) Limited (STAPCO) that was awarded the contract to mine gold in the Stateowned Biharamulo mine located in Kagera Region. Tanzania is the fourth-largest gold producer in the continent after South Africa, Ghana and Mali.