S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%S&P 500 5,235.18 +1.02%EUR/USD 1.0840 +0.21%GBP/USD 1.2710 +0.14%USD/JPY 149.50 −0.18%BRENT $82.40 −0.81%BTC $67,800 −0.21%GOLD $2,341 +0.55%NASDAQ 16,420.55 +0.74%
A daily business newspaper · Founded in 2026

Money Talk

Finance and markets: business, quotes, gold, energy and releases.

Lake Victoria Gold Starts Land Compensation Process at Tembo Project

Lake Victoria Gold has officially launched its first land valuation and compensation program at the Ngula 1 deposit within the Tembo Gold Project in Tanzania. The company has applied to the Geita District Council to appoint statutory officers, aiming to finalize the process by early October 2026.

Lake Victoria Gold Starts Land Compensation Process at Tembo Project
Photo: Bio & News

The initiative covers 111.32 acres, split between 88.51 acres within the company’s own mining license area and 22.81 acres associated with primary licenses held by Nyati Resources. By initiating these proceedings now, Lake Victoria Gold intends to secure surface access well ahead of planned infill drilling and potential future production. The company is leveraging its established experience from the Imwelo Gold Project, where similar statutory processes have already been completed.

This land access is critical for the Ngula 1 deposit, which contains the majority of the ounces identified in the company's maiden mineral resource estimate for Tembo. Furthermore, the effort supports an existing toll-milling arrangement with Nyati Resources, which utilizes a 500-tonne-per-day processing plant. CEO Marc Cernovitch emphasized that the company is prioritizing a transparent, proactive approach to community engagement to avoid typical industry delays associated with land rights and site access.

Share article
TelegramXFacebook

When reusing this material a link to Money Talk is required.

Comments (0)

Leave a comment

No comments yet. Be the first!