Kiwira needs over Sh736 billion just for take-off
A machine for crushing rocks containing coal is seen at Kiwira Coal Mine in Mbeya Region recently. The state-owned firm needs more than Sh700 billion just for take-off. PHOTO | FILE
What you need to know:
- The coal mine in the northern highlands of Tanzania has failed to commence production for lack of capital
Dar es Salaam. The State Mining Corporation (Stamico) is in dire need of at least $460 million (Sh736 billion) to accomplish the task of commencing coal production and electricity generation at Kiwira Coal Mine.
According to the statement of the Ministry of Energy and Minerals issued by its Saturday publication, the coal mine with the potential capacity of producing over 1.5 million metric tonnes of coal annually, has failed to commence production due to failure to mobilise capital.
The publication has quoted the co-ordinator for Kiwira project, Ms Rehema Mwakajube as saying that experts have identified two sources of coal production at the mine, including opem cast with the potential capacity of producing 1.2 million metric tonnes and underground with the potential of producing between 150,000 and 300,000 metric tonnes of coal annually.
Ms Mwakajube who is also Stamico acting director of finance and administration says that the corporation is looking for a strong partner to carry out the business as efficiently as possible.
According to her, Stamico has already announced a tender for the expression of interest for investors to submit their proposals for investing in Kiwira mine.
