Mwamba

What Mwamba does

Mwamba is a Tanzanian-based mining services and resource development company founded in 2018 by Dartmouth College classmates Samwel Bahebe, Thomas Cornew, and Eduard Cornew. The company operates a vertically integrated mine-to-market model targeting the country's artisanal and small-scale gold mining (ASGM) sector, an estimated 1.5 million-strong workforce in Tanzania that traditionally relies on mercury-based processing. Mwamba's core offering is a centralized, industrial-scale Carbon-in-Pulp (CIP) gold processing facility at Buziba, Geita, which at 120 tonnes per day recovers 90-95% of gold from ore versus roughly 30% for mercury methods, with planned expansion to 500 tpd and ultimately 1,000 tpd. Complementary assets include the 1,000-2,000 tpd Imara Joint Venture with UDSM-MRI (integrating TOMRA sensor-based ore sorting), the Jasiri Mine (147,000 recoverable ounces at ~$1,300/oz AISC), and a 1,725 km² prospective land position in the Nzega greenstone belt, of which 1,325 km² is under a Barrick Gold earn-in agreement worth up to $23.1M.

Mwamba generates revenue through ore purchasing from vetted artisanal miners, toll processing on revenue-share or service-fee models, joint venture mine co-development where the company invests capital and equipment in exchange for a share of ore production, and direct gold exports to international buyers with full mercury-free and conflict-free documentation. The Wazi digital traceability platform, under development with Datastake for a 2026 rollout, is intended to provide blockchain-backed supply chain transparency, mobile-based ore transactions, M-Pesa payments, and live risk assessment for OECD and LBMA compliance. In addition to a flagship earn-in partnership with Barrick Gold Corporation, the company maintains strategic relationships with UNEP/planetGOLD (private-sector advisor since 2019), the University of Dar es Salaam's Mineral Resources Institute, the World Gold Council (recognized as one of only two global success stories in mercury-free ASGM processing in March 2025), and various community-facing NGOs including Asante Africa Foundation, Tanzania Red Cross Society, and WaterAid.

Name

Mwamba

Legal name

Mwamba

Website

https://mwambamining.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Mwamba is a Tanzanian company that provides mercury-free, industrial-scale Carbon-in-Pulp gold processing to artisanal and small-scale miners, while also developing large-scale mines and JV partnerships (including Barrick Gold) in Lake Victoria Goldfields and the Nzega greenstone belt.

Ownership category

akta.pro rank

Product category

Artisanal Gold Mining Services

NAICS

Other Metal Ore Mining (21229), Support Activities for Metal Mining (213114), Support Activities for Mining (2131), Nonferrous Metal (except Aluminum) Smelting and Refining (33141)

SIC

Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Contract Crushing, Screening & Materials Handling (In-Pit/ROM, Conveying, Stockpiling) (IMAKAKAH)

Keywords

• Mercury-free gold processing
• Artisanal gold mining services
• Carbon-in-pulp processing
• ASGM formalization services
• Traceable gold supply chain

Headquarters

HQ city

Mwanza

HQ country

Tanzania

HQ region

Africa

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Ore Purchasing: Mwamba purchases gold-bearing ore directly from vetted artisanal miners at prices based on measured gold content determined through transparent metallurgical testing. This disintermediates mercury-based processing and forms the core supply chain integration.
2. Toll Processing / Revenue Share: For miners who maintain control of their sites, Mwamba processes ore at Buziba using a flexible structure: revenue share (fixed percentage of recovered gold based on average grade of ore) or a standard service fee based on servicing days. The toll model builds trust through full transparency from ore entry to final doré bar.
3. Joint Venture Mine Co-Development: For selected licensed operators with promising geology and growth potential, Mwamba enters JV agreements investing capital, equipment, safety systems, and expertise in exchange for a fixed percentage of ore produced. This has increased partner mine production capacity from 5–10 tons per day to over 100 tons per day.
4. Exploration Services & Earn-In Revenue (Barrick Partnership): Through the Barrick earn-in agreement, Barrick may invest up to $16.5M in exploration activities (expanded to $23.1M total through June 2025 amendment) to earn up to 80% JV interest in the Nzega license portfolio. This generates exploration funding revenue and eventual production upside.
5. Gold Export and International Sales: Mwamba exports and sells gold produced directly to reputable buyers around the world, with full documentation that the gold is mercury-free and conflict-free. Social objectives align with Tanzanian government requirements for necessary permits and licenses to mine, process, and export gold.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Mwamba operates a vertically integrated, mercury-free gold mine-to-market business in Tanzania's Lake Victoria Goldfields. Its core service is industrial Carbon-in-Pulp (CIP) ore processing for artisanal and small-scale gold miners at the 120 tpd Buziba plant, achieving 90–95% gold recovery vs. ~30% with mercury methods. The company also purchases ore directly from vetted miners, co-develops JV mines, exports mercury-free doré to international buyers, and is rolling out the WAZI digital traceability platform.

Product overview

Mwamba offers a vertically integrated mine-to-market solution for artisanal and small-scale gold mining (ASGM) in Tanzania, combining industrial processing infrastructure with digital supply chain technology. The core offering consists of mercury-free CIP processing services through the Buziba Plant (120 tpd, expandable to 500-1000 tpd) and the upcoming Imara Project (1000-2000 tpd), which provide gold recovery rates of 90%+ compared to the 30-40% achieved with traditional mercury methods. The WAZI Platform serves as the digital backbone, enabling mobile-based ore transactions, M-Pesa payments, and blockchain-powered traceability from mine to market. Mwamba also operates through Joint Venture Mine Co-Development partnerships, investing capital and equipment into licensed ASM operators in exchange for ore production, and maintains an exploration partnership with Barrick Gold covering 1,725 km² in the Nzega greenstone belt.

Differentiator

Problem solved

Functional benefit

Brands

• WAZI: A first-of-its-kind supply chain and traceability solution for ASGM communities globally. The platform vertically integrates adjacent small-scale miners and gold processors in Mwamba's responsible gold supply chain, enabling peer-to-peer processing economies.

Products and services

• Buziba CIP Processing Plant Industrial-scale Carbon-in-Pulp gold processing facility at Buziba, Geita, Tanzania, providing artisanal and small-scale gold miners with mercury-free ore processing services that achieve 90–95% gold recovery (vs. 30–40% with mercury methods). The plant handles crushing, leaching, carbon adsorption, elution, and onsite smelting into mercury-free doré bars.
• WAZI Platform First-of-its-kind digital supply chain and traceability platform for ASGM communities globally. The mobile-based platform enables peer-to-peer ore trading, coordinates logistics for ore pickup and transport, manages payments via M-Pesa, and stores all transactions on a blockchain-powered backend for end-to-end traceability from mine to market, with OECD and LBMA compliance.
• Joint Venture Mine Co-Development Service in which Mwamba invests capital, equipment, safety systems, and expertise into licensed ASM operators in exchange for a percentage of ore production. Active JVs include Miti Minane, Upya, and Kinyonga mines, with partner capacity elevated from 5–10 tpd to over 100 tpd.
• Ore Purchase from Vetted Suppliers Direct purchase of gold-bearing ore from vetted artisanal miners at prices based on measured gold content through transparent metallurgical testing, with partial payment (assumed 1 gram per ton) at pickup and balance settled via M-Pesa after metallurgy.
• Nzega Exploration Partnership with Barrick Gold Earn-in exploration partnership with Barrick Gold Corporation covering 1,325 km² of Mwamba's Nzega license portfolio in Tanzania's greenstone belt, in which Barrick may invest up to $23.1M to earn up to 80% JV interest, combining Barrick's exploration capabilities with Mwamba's local knowledge and infrastructure.
• Imara Joint Venture For-profit joint venture with University of Dar es Salaam's Mineral Resources Institute (UDSM-MRI) to reopen Resolute Mining's former Golden Pride Mine. Mwamba plans to construct a 1,000 tpd (graduating to 2,000 tpd) processing plant integrating TOMRA sensor-based ore sorting, leveraging legacy infrastructure including grid power, processing foundations, and tailings dam.
• Jasiri Mine Mwamba's flagship gold development in Tanzania's Lake Victoria Goldfields. Current modeling shows approximately 147,000 recoverable ounces of gold within an open-pit shell averaging 1.47 g/t Au at a 0.5 g/t cut-off, based on 37,000+ metres of drilling, with anticipated ~$1,300/oz AISC and metallurgical recoveries exceeding 90%.

Quantifiable outcome

• 90–95% gold recovery vs. ~30% for mercury-based processing — effectively doubling or tripling gold output per tonne of ore
• +6 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered supporting and core / flagship.

• Tanzania Red Cross SocietysupportingStrategic or Co-development Partner · 1 January 2026Mwamba signed an MoU with the Tanzania Red Cross Society in January 2026 to provide professional emergency response services supporting Mwamba's operations. The partnership delivered a 4-day Emergency Response and First Aid training program (21–24 January 2026) to 45 Mwamba employees from the CIP plant, JV mine partners, and Lwamgasa community. Training covered fire safety, CPR, first aid for wounds/burns/fractures, psychological first aid, and casualty handling. The newly trained in-house Emergency Response Team strengthens Mwamba's operational readiness.
• Nyarugusu Health CentresupportingStrategic or Co-development Partner · 1 January 2026Mwamba partnered with Nyarugusu Health Centre to deliver free four-day medical outreach services to Buziba community (721 patients seen; services included 72 eye consultations with 9 cataract surgeries, 7 dental extractions, 17 ultrasound/gynecological scans identifying tumors and fibroids, blood pressure screening, and blood donation). Mwamba arranges further surgical assessment for diagnosed patients.
• Barrick Gold Corporationcore / flagshipStrategic or Co-development Partner · 1 June 2024In June 2024, Mwamba signed an earn-in agreement with Barrick Gold Corporation (largest gold producer in Tanzania, second-largest globally) covering a 1,325 km² portion of Mwamba's Nzega license portfolio. Barrick may invest up to $16.5M initially (later expanded to $23.1M total through June 2025 amendment) in exploration activities to earn up to 80% JV interest. The partnership combines Barrick's world-class exploration capabilities with Mwamba's local insights and infrastructure in the Nzega greenstone belt, targeting orogenic gold systems beneath thick sedimentary cover. Mwamba retains local management and community relationships while Barrick provides technical expertise including airborne surveys, geophysical and geochemical techniques, and drilling campaigns.
• planetGOLD / UNEPcore / flagshipStrategic or Co-development Partner · 1 June 2019Mwamba elected as private sector advisor to the UNEP Global Mercury Partnership and planetGOLD programme in June 2019. planetGOLD is the UNEP's flagship program for addressing mercury in ASGM, active in 9 countries (Burkina Faso, Colombia, Ecuador, Guyana, Indonesia, Kenya, Mongolia, Peru, Philippines). Mwamba advises the ASGM Global Mercury Partnership Area. Invited to present at Minamata Convention COP3 (Geneva 2019), planetGOLD Global Forum (Manila 2024), and discussions underway for WAZI pilot with Indonesia's GOLD-ISMIA program.
• University of Dar es Salaam — Mineral Resources Institute (UDSM-MRI)core / flagshipStrategic or Co-development PartnerFor-profit joint venture (Imara Project) with UDSM-MRI to reopen Resolute's former Golden Pride Mine at the Nzega Campus. Mwamba and UDSM-MRI share expertise and resources for mining operations, local capacity development, and community outreach. Mwamba plans to construct a 1,000 tpd (graduating to 2,000 tpd) processing plant within the retired Golden Pride Mine facilities, leveraging legacy infrastructure including surveyed fenced site, 5MW grid power, plant water pond, haulage roads, tailings dam, and accommodation facilities.
• Asante Africa FoundationsupportingStrategic or Co-development PartnerJoint education initiative delivering 100 scholarship packages (uniforms and learning supplies), 100 Buffalo Bicycles (from One Bicycle Foundation/Buffalo Bicycles partnership) for long-distance students, and Wezesha Vijana Program life skills clubs to 100 vulnerable students near Buziba. Buffalo bicycles are designed for rugged rural terrain, reducing 12–30 km commutes to under 30 minutes. The Wezesha Vijana Program is a 16-session student-led curriculum building confidence, communication, health literacy, and leadership. Program engages parents, schools, and community leaders to strengthen support for girls' education.
• WaterAidsupportingStrategic or Co-development PartnerMwamba has established community collaboration with WaterAid for ongoing community-driven projects supporting wellbeing and development in areas surrounding Buziba operations.
• DatastakesupportingTechnology or IntegrationMwamba is developing the Wazi digital traceability platform in partnership with Datastake, set to roll out in 2026 across all operations. The platform will ensure full transparency and compliance with OECD and LBMA responsible sourcing standards, enabling live risk assessment scanning of mine sites, digitized KYC/Due Diligence/ESG management, and automatic transaction recording for end-to-end traceability from ore source to refined gold.
• TOMRAsupportingTechnology or IntegrationTOMRA's sensor-based ore sorting system is integrated into the Imara Project's planned 1,000–2,000 tpd processing facility to redefine mining efficiency and ensure optimal yield with minimal wastage.
• Buffalo Bicycles / One Bicycle FoundationsupportingGTM or Marketing PartnerBuffalo Bicycles contributed rugged, durable bicycles designed for challenging rural terrain for the Mwamba-Asante Africa Foundation education initiative serving 100 students near Buziba, reducing school commutes from 12–30 km to under 30 minutes.

Scale indicators13 records

Recent moves6 records

Expansion highlights10 records

Broad incumbents

• Newmont Corporation: Largest gold mining company globally with significant African and tier-1 goldbelt exposure. Mwamba's advisor Mac Jackson previously held senior roles at Newmont, and Newmont represents the type of large-cap gold major that Mwamba's processing and exploration businesses aim to partner with as scale develops.
• AngloGold Ashanti: Global gold major with significant African mining operations, including Geita (Tanzania) located in the same Lake Victoria Goldfields as Mwamba. Provides a relevant incumbent benchmark for African gold mining economics, regulatory exposure, and processing infrastructure.
• Barrick Gold Corporation: World's second-largest gold producer and Mwamba's strategic earn-in JV partner on the 1,325 km² Nzega portfolio. Comparable as a global gold major with African exposure (formerly via Acacia Mining in Tanzania) and as a strategic capital partner validating Mwamba's land position.

Emerging players

• Hummingbird Resources: Small-cap gold miner with the Yanfolila mine in Mali and exploration interests across West Africa. Comparable as an emerging gold producer navigating similar operational, capital, and jurisdictional challenges in Africa, providing a benchmark for valuation and scaling trajectory.
• Shanta Gold: Tanzania-focused gold miner operating the Singida and New Luika gold mines in the Lake Victoria Goldfields, the same region as Mwamba. Comparable as a small-to-mid cap emerging African gold producer navigating the same Tanzanian regulatory environment.

Direct peers

• Resolute Mining: Australian-listed gold producer that previously operated the Golden Pride Mine in Tanzania's Nzega region — the very asset Mwamba's Imara Joint Venture with UDSM-MRI plans to reopen. Most directly comparable peer given shared Nzega greenstone belt infrastructure, processing plant foundations, and tailings dam that Imara intends to leverage.

Regional players

• Endeavour Mining: Mid-cap gold producer focused on West Africa with multi-asset operations and a track record of consolidating smaller gold assets. Comparable to Mwamba in targeting under-explored African greenstone belts and representing the typical scaling pathway for African-focused gold businesses.
• Perseus Mining: African-focused mid-cap gold producer with operations in Ghana, Côte d'Ivoire, and previously in Tanzania (Edikan). Perseus offers a directly comparable multi-jurisdiction African gold operating model and validates the institutional capital pathway for African gold miners.

Others

• Circulor: Supply chain traceability and ESG platform provider (formerly including RCS Global's mineral traceability work), working with major mining and automotive companies on responsible sourcing. Comparable as a peer in mineral supply chain traceability technology, an adjacent solution to Mwamba's WAZI platform targeting ASM formalization.
• TOMRA Systems ASA: Norwegian sensor-based sorting technology provider whose ore sorting system is integrated into Mwamba's planned Imara Project (1,000-2,000 tpd). Comparable as a technology partner and as a leading supplier of mining productivity and ore sorting infrastructure used across the gold industry.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xlinkedin.com/company/mwambamining
• LinkedInlinkedin.com/company/mwambamining

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mwamba