Lake Victoria Gold Strengthens Board by Partnering With Taifa Group
Posted on : Tuesday, 3rd June 2025
Lake Victoria Gold is strengthening its strategic cooperation with Taifa Mining Civils Ltd., Tanzania's top mining and construction enterprise. The corporation reports that Richard Reynolds, the CEO of Taifa Mining Civils Ltd., has been named to the Lake Victoria board. Reynolds was essential in defining the company's mining activities and implementing large-scale projects in Tanzania. In his present role, he provides strategic oversight and assistance in assessing and creating new business possibilities, reporting directly to Rostam Aziz, the Chairman of the Taifa Group. A conglomerate, the Taifa Group owns companies in a variety of industries, including mining, telecommunications, oil and gas, agriculture, pharmaceuticals, and leather. Taifa Mining will now handle all contract mining and construction operations for Lake Victoria Gold's Imwelo project. Mr. Reynolds has over 30 years of expertise in mining, infrastructure, logistics, and commercial development, with a good track record in East Africa and the United Arab Emirates.
In Addition, his appointment emphasises the significance of our collaboration with the Taifa Group and reinforces our determination to realise the full potential of our Tanzanian gold projects. Richard's leadership in the African corporate sector, along with his skills in infrastructure and project financing, make him an invaluable asset in LVG's transition from exploration to development. The addition of Richard Reynolds to the Lake Victoria board is a clear indication to the market. Taifa Mining, Tanzania's top private mining business, now has a seat at the table for all decisions concerning anticipated gold production at the Imwelo project and elsewhere. The firm is the preferred contractor for the majority of Tanzania's mines, with long-standing and profitable agreements with Petra, De Beers, Barrick, and AngloGold Ashanti. Richard Reynolds will help accelerate Imwelo's development right away by utilising his operational expertise, Taifa Group's mining capabilities, and—most importantly—his access to money. Taifa and Lake Victoria Gold share the objective of making LVG a significant force in Tanzania's gold industry.
