What Shanta Gold does

Shanta Gold is an Africa-focused gold producer, developer, and explorer operating a diversified portfolio of mining assets in East Africa. The company operates two producing gold mines in Tanzania — New Luika Gold Mine (Songwe District, a hybrid open-pit and underground operation) and Singida Gold Mine (Ikungi District, currently open-pit with a transition to hybrid mining planned) — both employing conventional crushing, milling, and carbon-in-leach (CIL) gold extraction. Underground ore extraction at New Luika uses mechanised longhole stoping with cemented paste backfilling, and Singida delivers approximately 95% gold recoveries. Throughputs are scaling: Singida's mill capacity completed a doubling to 730,000 tonnes per annum in H1 2025, while New Luika is expanding primary crusher capacity from 3,000 to 5,000 t/day and adding a fourth mill, targeting approximately 40% throughput growth by end-2027. The company is also advancing the West Kenya Gold Project through permitting and construction, comprising the Ramula-Mwibona (open-pit) and Isulu-Bushiangala (underground) deposits with a proposed 915,000 t/annum processing capacity.

Shanta generates revenue by selling extracted gold either directly to the Bank of Tanzania at a 4% royalty rate (to support national reserves and local refining) or to international refineries at a 6% royalty rate for export. Pricing is set by global gold market rates, making the business a commodity-price-taker. The company's go-to-market is B2B sales-led with no consumer-facing marketing, supported by a corporate website and direct relationships with government and refining counterparties. Compliance footprint spans the Tanzania Mining Act 2010, Tanzania Environmental Management Act, Kenya EMCA 1999, and Kenya Constitution 2010, with statutory annual safety inspections by Tanzania OSHA.

The company is incorporated as Shanta Mining Company Limited in Tanzania with a Guernsey registered office at St Peter Port, and employs a workforce that is over 99% Tanzanian nationals (approximately half from local villages). The ownership structure, institutional shareholders, and specific governance details are not disclosed in the source data.

Name

Shanta Gold

Legal name

Shanta Mining Company Limited

Website

https://shantagold.com

Company type

Private

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Shanta Gold is an Africa-focused gold producer operating two producing gold mines in Tanzania — New Luika and Singida — using conventional carbon-in-leach extraction, while advancing the West Kenya Gold Project through permitting and construction. The company sells gold directly to the Bank of Tanzania and international refineries under commodity-market pricing.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (212220)

SIC

Gold And Silver Ores (1040), Metal Mining (1000), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industry

Precious Metals Smelting & Refining (IMAKAEAE)

Keywords

• Gold mining
• Gold production
• Mineral exploration
• Mining operations
• Gold extraction

Headquarters

HQ city

Masaki

HQ country

Tanzania

HQ region

Africa

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Others

Revenue model

1. Gold Production and Sales: Shanta Gold generates revenue through the extraction and sale of gold from its operational mines in Tanzania. Gold is sold either directly to the Bank of Tanzania (at a reduced royalty rate of 4%) or exported to international refineries (at a 6% royalty rate). The company operates two producing gold mines and is developing the West Kenya Gold Project.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Shanta Gold is a gold producer, developer, and explorer operating two producing gold mines in Tanzania (New Luika Gold Mine and Singida Gold Mine) and developing the West Kenya Gold Project in Kenya. The company extracts gold using open-pit and underground mining methods and processes ore through conventional crushing, milling, and carbon-in-leach (CIL) gold extraction, selling the output to the Bank of Tanzania and international refineries.

Product overview

Shanta Gold is an Africa-focused gold producer, developer and explorer operating a portfolio of gold mining assets. The company operates two producing gold mines in Tanzania (New Luika and Singida) and is advancing the West Kenya Gold Project through permitting and construction. New Luika is an Open Pit and Underground operation using contractor-based open pit mining with owner-operated underground operations. Singida is currently an open-pit operation with plans to transition to a hybrid open-pit and underground model. The West Kenya Project is a proposed development with Ramula-Mwibona as an open-pit operation and Isulu-Bushiangala as an underground operation. All operations use conventional crushing, milling, and carbon-in-leach (CIL) gold extraction processing techniques.

Differentiator

Problem solved

Functional benefit

Products and services

• New Luika Gold Mine Open-pit and underground gold mining operation in Songwe District, Southwestern Tanzania. Uses contractor-based open-pit operations and owner-operated underground mechanised longhole stoping with paste backfilling, processed via conventional crushing, milling, and carbon-in-leach (CIL) gold extraction.
• Singida Gold Mine Open-pit gold mining operation in Ikungi District, Singida Region, Central Tanzania, operated under a contractor-mining model with planned transition to a hybrid open-pit and underground operation. Processing includes crushing, milling, CIL, and gravity gold extraction delivering approximately 95% recoveries.
• West Kenya Gold Project Proposed gold mining development in Kenya comprising two key deposits: Ramula-Mwibona (open-pit with contractor-mining model) and Isulu-Bushiangala (underground with mechanised longhole stoping and cemented rock fill). Planned processing throughput capacity of 915,000 tonnes per annum using conventional crushing, milling, and CIL gold extraction.

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Emerging players

• Galiano Gold: Mid-tier gold producer focused on the Asanko Gold Mine joint venture in Ghana — directly comparable as a single-jurisdiction African gold producer with mine-expansion and resource-conversion levers.
• West African Resources: Emerging West African gold producer that has moved a development project (Sanbrado) into production and is expanding — comparable as a smaller-scale gold producer executing both production and project-development steps in parallel.
• Aya Gold & Silver: Mid-cap gold and silver producer/developer operating in Morocco with commissioning-stage assets — comparable as a smaller-scale precious-metals operator transitioning from developer to producer.
• Allied Gold: Africa-focused gold developer/producer advancing West African assets — comparable as an emerging African pure-play gold operator combining producing and development assets.

Broad incumbents

• Barrick Gold: Largest gold miner globally with significant Tanzanian exposure (Bulyanhulu, North Mara) — comparable as a major incumbent operator in the same Tanzanian host jurisdiction, though at materially larger scale.
• AngloGold Ashanti: Major global gold producer with diversified African assets (including Geita in Tanzania) — directly relevant as a larger peer operating in the same Tanzanian jurisdiction as Shanta.

Direct peers

• B2Gold: Multi-jurisdiction gold producer with significant African operating exposure (Fekola in Mali) and a development/expansion pipeline — comparable to Shanta on multi-asset African gold production and grassroots project advancement.
• Perseus Mining: Multi-asset mid-tier gold producer operating West African mines (Edikan, Yaouré, Sissingué) — directly comparable to Shanta as a junior-mid tier gold operator running several producing assets with active growth pipeline.
• Endeavour Mining: Major West African gold producer with multiple producing mines and an active organic and M&A growth pipeline — closely comparable to a multi-asset East African producer like Shanta that is scaling throughput and developing new deposits.
• Pan African Resources: Diversified African mid-tier miner producing gold and platinum-group metals across South Africa — comparable on multi-asset African mining operations and tailings/resource management.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/shanta-gold-limited

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A2 records

Investments

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

Frequently asked questions about Shanta Gold