The National Mining Company (STAMICO), has signed a two-year contract worth Shs 55.2 billion with the Geita Gold Mine Company (GGML) specifically for mining operations.

Speaking at the contract signing ceremony on March 27, 2023 in Geita, the CEO of Stamico, Dr. Venance Mwasse, said the contract is the result of Stamico's efficiency and improvement.

He has said that Stamico will be responsible for digging 95,000 meters inside the GGML mine, where they previously had a short-term contract, but the signed contract is long-term and the most valuable ever.

"We are well prepared and you will see that we have enough machines, so far we have 14 machines (for painting), but we will add two more and it will reach 16.

"That is the direction of the organization to ensure that we continue to get large contracts in this country, and to be able to create jobs for our fellow youths but also to be a source of income.

"We will implement this contract seriously and without bringing any complaints, and we believe that the implementation of this contract will lead to a bigger contract of many more billions," he said.

Acting CEO of GGML Mine, Damon Elder has said that they have entered into a contract with Stamico, as they have faith in the Tanzanian company and will ensure that they continue their cooperation.

Minister of Mines Dr. Dotto Biteko has said that the agreement is the result of the investment made by the government to ensure that the Stamico company is strengthened and able to operate profitably.

He has said that this is also the result of the amendment of the mining law that took place in 2017, which directs all large mining companies in the country to get important services for the natives.

Minister Dr. Biteko has asked Stamico to ensure that they comply with the terms of the contract, work efficiently and abandon dirty behaviors that damage the image of indigenous companies.