Stamigold, a subsidiary of the State Mining Corporation (STAMICO), will celebrate its first gold production this year by importing new heavy duty machinery.
Acting Stamigold Biharamulo Mine Manager, Mr. Dennis Ssebugwao, confirmed that the company will procure own machineries expected to slowly out phase dependence on equipment they hire from private companies. They are yet to import new heavy duty mining equipment worth US$ 5.5m.
The machines involved are two excavators and two dozers. Stamigold is planning to do away with hired machines in phases, and is expected to complete doing away with dependency within six months to one year from now.
According to Mr Ssebugwao, Stamigold will now be able to perform the finishing stage of producing quality gold between 85 per cent and 90 per cent. Still, foreign experts will be required to refine the gold further so it can attain best price in the world market.
STAMIGOLD Company Limited engages in prospecting, exploration, development, production and processing of gold, it also markets gold within foreign markets.