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Lake Victoria Gold Breaks Ground at Imwelo Project

Heavy machinery is now clearing the landscape at Tanzania's Imwelo Gold Project, marking a definitive transition from planning to construction. Lake Victoria Gold Ltd. officially launched its Phase 1 earthworks on July 28, 2026, signaling the start of a critical build-out phase in the Lake Victoria Goldfield.

Lake Victoria Gold Breaks Ground at Imwelo Project
Photo: Bio & News

The commencement of earthworks moves the project beyond the theoretical stage of permitting and into active site development. Current efforts focus on two parallel workstreams: the upgrade of access roads to facilitate heavy logistics and the clearing and compaction of the plant site. Simultaneously, the construction camp is nearing completion. In a move aimed at long-term capital efficiency, the company designed the camp to serve as the permanent operations facility, avoiding the standard industry practice of building separate temporary and permanent housing.

Execution on the ground is led by CECL, a 100% Tanzanian-owned EPCM contractor, with technical support from Sutton Consulting. This structure aligns with the country's local content regulations while integrating the project into the regional industrial ecosystem. The development is further bolstered by strategic backing from Barrick Mining, which holds a direct equity position, and Taifa Mining, the country's largest contractor, which has been tapped to handle all civil works and mining operations. As the team moves forward, the next major financial milestone remains the closing of a gold loan facility with Monetary Metals, which is currently navigating Tanzanian regulatory approvals.

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