DAR ES SALAAM, Oct. 17 -- THE State Mining Corporation (STAMICO) plans to establish three new mines, two for gold and one for graphite, as it seeks to expand mineral production, strengthen its investment portfolio and increase domestic participation in the mining sector.

The plan follows a significant improvement in the corporations financial performance, with revenue rising from 1.3bn/- in 2018/19 to 147.8bn/- in the 2025/26 financial year. Speaking during a working session with media editors in Dar es Salaam yesterday, STAMICO Managing Director Dr Venance Mwasse said preparations for the new projects were underway, including exploration at the Kigosi gold project in Geita Region.

“We have planned to establish three major mines, ...