Armed robbery at Resolute's Golden Pride gold mine

By IBTimes Staff Reporter | April 23 2009 9:57 AM

Armed robbers have stolen about 3,500 ounces (more than 100 kg) of gold worth some $3 million from Australian Resolute Mining's operation in Tanzania, the company said.

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Thieves overpowered guards at the mine, 750 km (450 miles) from the commercial capital Dar es Salaam, before taking the gold, local media reported. Police do not usually guard mines in the country and companies arrange their own security.

Resolute Mining Limited advises that there was an armed robbery last night at its Golden Pride gold mine ... There were no fatalities and the intruders stole approximately 3,500 ounces of gold, the company said in a statement late on Wednesday.

Police have commenced a full investigation of this serious incident, and every attempt is being made to recover the stolen gold. Resolute Mining has in place insurance to cover the loss arising from this theft. The company gave no more details.

Gold was trading at around $894 per ounce at 0830 GMT.

Golden Pride is in northwest Tanzania. In 2006, robbers stole 90 kg of gold from another mine in the same region. (Reporting by George Obulutsa; editing by Andrew Roche)

(c) Copyright Thomson Reuters 2009.

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