Lake Victoria Gold launches phase three land valuation at Imwelo

Dar es Salaam, Tanzania – In a significant development for the East African mining landscape, Lake Victoria Gold has announced the initiation of its third phase of land valuation and compensation for the Imwelo Gold Project in Tanzania. Slated to begin on August 1, 2026, this program represents a pivotal step in advancing the fully permitted project towards its construction and eventual production phases, underscoring the company’s strategic commitment to disciplined execution and responsible community engagement.

Advancing the Imwelo Gold Project: Phase Three Land Acquisition

The upcoming phase of land valuation and compensation is a critical component of Lake Victoria Gold’s comprehensive development strategy for its Imwelo Gold Project. The company’s fully owned subsidiary, Tembo Gold (T), will lead this process, focusing on the Imwelo A Hamlet, located within the Chato District of Tanzania’s mineral-rich Geita Region. This targeted approach is designed to secure essential land for expanding the project’s operational footprint.

The specific area designated for this third phase encompasses approximately 73 acres. This additional land is earmarked for crucial infrastructure necessary for a large-scale mining operation. These include:

• Accommodation Camps: Essential for housing the project’s growing workforce, ensuring comfort and proximity to the mine site.
• Workshop Facilities: Vital for the maintenance and repair of heavy equipment, vehicles, and machinery that will be central to construction and mining operations.
• General Mine Infrastructure: Supporting a range of ancillary facilities and operational requirements as the project scales up.

Lake Victoria Gold anticipates that around 60 ‘project affected persons’ (PAPs) will participate in this phase of the valuation and compensation program. The careful and equitable treatment of PAPs is a cornerstone of modern mining development, crucial for maintaining a positive social license to operate (SLO) and ensuring long-term community support.

A Phased Approach to Land Tenure: Building on Prior Successes

The initiation of phase three is not an isolated event but rather the continuation of a systematic and well-established land acquisition strategy. Lake Victoria Gold has previously completed two significant phases of land securing at the Imwelo site, demonstrating a methodical approach to project development:

• Phase One (Completed 2019): This initial phase successfully secured 268 acres, laying the groundwork for the project’s early development and exploration activities.
• Phase Two (Completed 2023): Building on the first phase, an additional 185 acres were secured, further expanding the project’s land holding in anticipation of larger-scale operations.

With the successful completion of phase three, which adds another 73 acres, the total land area secured for the Imwelo Gold Project will reach approximately 526 acres. This cumulative land package provides the necessary spatial foundation for a robust and expanding mining operation, from initial construction through to full-scale production and associated support facilities.

Navigating Tanzania’s Regulatory and Community Landscape

A key aspect of Lake Victoria Gold’s approach has been its diligent engagement with local and regional authorities. The company has confirmed that the commencement of this new land program has received formal approval from the Chato District authorities, a critical step that underscores the project’s adherence to local regulatory frameworks.

The valuation process itself will be meticulously conducted by qualified government valuers at both district and regional levels. This ensures that the process strictly adheres to Tanzanian laws pertaining to land acquisition and compensation, providing a legal and transparent framework for all transactions. The involvement of government valuers is standard practice in many jurisdictions, aiming to ensure fairness and adherence to national legal standards in compensation for land and assets.

Furthermore, the process is designed to be highly collaborative, incorporating input from a wide range of local stakeholders and representatives. These include:

• Representatives of the Chato District Council
• Officials from the District Commissioner’s Office
• Leadership from Imwelo Village
• Representatives from Buselesele Ward
• Other relevant local authorities

This multi-stakeholder engagement is fundamental to fostering transparency, building trust, and ensuring that the interests of all affected parties are considered throughout the valuation and compensation process. Such comprehensive engagement is not merely a regulatory requirement; it is a strategic imperative for any mining company seeking to operate sustainably and effectively within local communities.

Strategic Imperatives: From Permit to Production

Marc Cernovitch, President and CEO of Lake Victoria Gold, articulated the strategic importance of this development, stating, “Phase three reflects the steady, disciplined execution required to move Imwelo from a fully permitted project into construction and production.” His statement highlights the critical transition point that the Imwelo project has reached, moving beyond exploration and permitting into the tangible phases of physical development.

Cernovitch further emphasized the company’s commitment to community relations: “Our previous land programmes have established a strong foundation of trust with the community and local authorities, and we intend to maintain that standard as development advances. Responsible engagement is not separate from successful mine development; it is fundamental to building a durable operation in Tanzania.” This philosophy underscores a growing trend in the mining industry where social performance and community relations are recognized as integral to project success, not merely an adjunct activity.

The land program itself is part of a broader suite of site preparations designed to support the burgeoning workforce requirements and ongoing maintenance activities as the Imwelo project accelerates towards its construction phase. Efficient and timely land acquisition prevents bottlenecks in project timelines, ensuring that the necessary space for laydown areas, workshops, offices, and accommodation is available when construction activities commence in earnest.

The Imwelo Gold Project in Context: Tanzania’s Gold Potential

Tanzania has long been recognized as a prominent gold-producing nation in Africa, with a rich geological endowment within the Lake Victoria Greenstone Belt. This region hosts several world-class gold deposits and operating mines, making the Imwelo Gold Project a key asset in Lake Victoria Gold’s portfolio and a potentially significant contributor to Tanzania’s mining sector.

The progression of projects like Imwelo is crucial for sustaining and expanding the country's economic benefits derived from mineral resources. Successful land acquisition and the subsequent development phases signal not only the maturation of a specific project but also reflect positively on the investment climate within the Tanzanian mining sector. A transparent, legally compliant, and community-sensitive approach to land matters builds confidence among international investors and local stakeholders alike.

For Lake Victoria Gold, reaching the construction phase represents a major de-risking event. Moving from a fully permitted status, which entails significant regulatory hurdles and environmental assessments, to active site development indicates a robust project design and a strong operational plan. It also translates into tangible economic benefits through job creation during construction, local procurement, and ultimately, wealth generation from gold production.

Future Outlook and Industry Implications

The commencement of phase three land valuation at Imwelo marks a significant milestone, indicating a clear trajectory towards the project's operational future. Once the valuation and compensation are completed, the focus will shift decisively towards the detailed engineering, procurement, and construction (EPC) phases. This transition will involve substantial capital expenditure, the mobilization of significant equipment and personnel, and the transformation of the project site into a fully functional mine.

For investors, this development signals progress on a key growth asset, demonstrating the company’s ability to execute on its strategic objectives within a complex operating environment. The disciplined management of land acquisition and community relations, as highlighted by CEO Marc Cernovitch, sets a positive precedent for other projects in the region and within Lake Victoria Gold’s broader portfolio.

The ultimate success of Imwelo will be measured not only in gold output but also in its contribution to local socio-economic development, its adherence to environmental standards, and its ability to maintain harmonious relationships with host communities. Lake Victoria Gold's methodical approach to land acquisition is a strong indicator of its commitment to these broader responsibilities, laying a solid foundation for a durable and profitable operation in Tanzania.