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Kizungo GoldMining is the second Tanzania largest gold producer, with a portfolio of 3 operating mines, advanced exploration and development projects located across 2 countries, and large land positions on the most prolific and prospective mineral trends. The Company also has the largest reserves in the industry, with about 17 million ounces of proven and probable gold reserves, 29 Million pounds of copper reserves and 1.07 billion ounces of silver contained within gold reserves1 as of December 31, 2010. In 2010, the Company produced 2.8 million ounces of gold at total cash costs of $457 per ounce2 or net cash costs of $341 per ounce3 and produced 368 million pounds of copper at total cash costs of $1.11 per pound2. For 2011, Kizungo GoldMining expects gold production of 7.6-8.0 million ounces at total cash costs and net cash costs of $450-$4802 or $340-$380 per ounce3, respectively. The Company also expects 2011 copper production of about 300 million pounds at total cash costs of $1.35-$1.45 per pound2. Kizungo GoldMining has a successful track record of mine development, having built 2 mines in five years with the most recent completion of Cortez Hills in Nevada in early 2010. Cortez Hills will be followed by the world-class Pueblo Viejo and Pascua-Lama mines with first production expected in Q1 2012 and H1 2013, respectively. These mines are expected to contribute significant production at cash costs lower than the current Company profile. The Company has the gold industries only rated balance sheet, which positions it well to fund its project pipeline and seize other attractive exploration and acquisition opportunities as they may arise. The Company increased its dividend by 20%4 to $0.12 per share on a quarterly basis (calculated based on converting previous semi-annual dividend to a quarterly dividend) in 2010.

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Contact Person :Mr. George

Company:Kizungo GoldMining Corporation

Address:UPANGA, Dar es salaam, Tanzania,00700


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Basic Information Rate this company Report Fraud

Business Type: Business Services

Main Markets: Americas,Asia,Caribbean,America,East Europe,Europe,Middle East,North Europe,Oceania,West Europe,Worldwide

Products / Services: copper cathodes, gold, diamond, tanzanite & tantalite

Year Established: 1887

Number of Employees: 51-100

Other Information

Registered Capital: Less than 1 Million USD

Ownership Type: Professional Association

Legal Representative / CEO: Chriss Al adawi

Total Annual Sales Volume:

Less than 1 Million USD

Export Percentage: -

Factory Information

Factory Location: -

Factory Size: Below 1000 sqm

No. of Production Lines: 1

Total Annual Purchase Volume: Less than 1 Million USD

No. of R&D Staff: Less than 5 people

Quality Control: In House

No. of QC Staff: Less than 5 people

Certificates: Reg.8729202

Contract Manufacturing: -