Lake Victoria Gold Limited (TSXV: LVG, OTCQB: LVGLF, FSE: E1K) completed the statutory disclosure stage of its Phase 3 land valuation and compensation programme at the Imwelo Gold Project on Tuesday, the company said.
Disclosure meetings with project-affected persons were held over the weekend in the Geita Region’s Chato District. A majority of affected landholders signed the required statutory valuation documentation, the company said. The initial process involved field valuation, property inspection and land measurement supervised by village leadership, with landholders reviewing verified property records before finalisation. Signed paperwork included entry permits, property inspection forms, Land Form No. 69, disclosure forms and land measurement forms.
The company noted an expansion in the programme’s scope after certain landholders requested full acquisition of their properties, saying remaining portions would be insufficient to support their livelihoods. Lake Victoria Gold said the additional land may be needed for future project development.
Under Tanzanian law, compensation cannot be paid until the final Phase 3 valuation report receives endorsement by the Office of the Chief Government Valuer within the Ministry of Lands, Housing and Human Settlements Development, the company said. The government valuation team is now preparing that report.
Land valuation and compensation for mining operations in Tanzania are governed by the Mining Act, Cap. 123, with frameworks established under the Land Act, Cap. 113, the Village Land Act, Cap. 114 and related regulations.
The Imwelo Gold Project is fully permitted in Chato District. However, Lake Victoria Gold has not yet completed a feasibility study establishing mineral reserves that demonstrate economic and technical viability.
The Phase 3 programme began on Aug. 1, approximately five weeks before the disclosure meetings took place.
