Rostam Aziz’s Taifa Mining advances Imwelo Gold Project after successful drilling programme
Waste rock drilling confirms planned construction sites are free of significant gold mineralisation, paving the way for Phase 1 development
Tanzania’s richest man, Rostam Aziz, is making significant strides through his company, Taifa Mining and Civils. The contract mining subsidy of Taifa Group has successfully completed a 23-hole waste rock drilling programme at Lake Victoria Gold’s Imwelo Gold Project in northwestern Tanzania.
The drilling campaign was carried out beneath the planned locations of the processing plant and workers’ accommodation camp. Results confirmed the absence of significant gold mineralisation in these areas, an important milestone for the project’s development. Constructing critical infrastructure over economically viable ore could compromise future mining opportunities and result in costly redesigns. The findings, therefore, assure that development can proceed without affecting the project’s resource potential.
In addition to confirming the suitability of the construction sites, the programme generated valuable geotechnical data. Geological investigations identified a continuous clay layer measuring between three and five metres thick beneath the proposed processing plant site. This information is being incorporated into foundation design and engineering plans to help mitigate civil construction risks and optimise site development.
With site approval now secured, Lake Victoria Gold and Taifa Mining are preparing to advance Phase 1 construction activities. Planned works over the coming weeks include the expansion of access roads, site clearing, and the construction of accommodation facilities.
Aziz’s involvement in the project extends beyond a conventional contractor role. Through Taifa Group, he holds an 8.147% equity stake in Lake Victoria Gold, making him both a shareholder and a key development partner in the Imwelo project.
This dual role aligns Taifa Group’s operational interests with the long-term success of the mine. As both a contractor and investor, the group stands to benefit directly from the project’s performance while contributing to its development and execution.
