Tanganyika Mining Burundi, or TMB, is a public-private enterprise that mines gold in north-western Burundi.
Prospecting
In May 2013 the company Ets Jbelli was granted a 3-year permit to prospect for gold in an area of 516.9 km2 near Mabayi in Cibitoke Province. The permit was renewed in September 2016, but in the name of the Russian company Tanganyika Gold S.A. In October 2017 Tanganyika Gold was granted a 25-year gold mining license at the Cimba site in the Commune of Mabayi, which contained an estimated 14 tonnes of gold, 36,000 tonnes of copper and 16 tonnes of silver.
Construction and operations
Decree No100/250 of 29 December 2017 authorized the state of Burundi to participate in the capital of the public-private company Tanganyika Mining Burundi (TMB), charged with exploiting the gold and associated minerals from the Cimba deposit. The state would take 15% in exchange for transfer of the subsoil of the Cimba deposit, while Tanganyika Gold S.A. would take 85% in exchange for construction, development and operation of the mine, and rehabilitation of the site.
The President of Burundi inaugurated the Cimba gold mining site on 31 October 2017. In July 2018 Côme Manirakiza, Minister of Mining, announced that the land should be cleared by the end of July, machines would be imported in August and installation would be completed in November. production would start in December 2018.
Companies wholly or partially owned by the state that were reporting negative results in 2021 included Hôtel Source du Nil