Best Group(T) Ltd and AUCOR will conduct a public auction of various items such as LOVs. Mini buses, fork lifts, pumps, generators, spares, motors, mining equipment’s, earth moving equipment’s. cables, scrap equipment’s, gold process plant, the auction will start on24th October – 27th October,2022 from 10:30 A .M, at Buzwagi Gold Mines described in the table below: ·


1.Participants should adhere withal safety requirements and standards of Buzwagi Gold Mine including wearing of mask, reflectors and safety boats.

2.That interested customers are invited to visit the site for viewing and inspecting items from Tuesday 18th October -to Saturday 22 October 2022 from 10:00 A.M up to 4:00 P.M. The registration process will close on23rd October,2022.

3.Purchasers shall pay exempted tax items to the Tanzania Revenue Authority; TRA officers will be present for clarification and guidance.

4.That the purchaser participation is subject to payment of entrance fees which is refundable to his/her account if will not purchase any items.

5.The entrance fees for the First day auction 24thOctober, 2022 will be TZS 4,500,000/= eligible for one auction only, 25th October and 27th October 2022 the entrance fee will be TZS 35,000,000/= free to attend three auction and the 26th October,2022 the entrance will be TZS 46,000,000/= and free to attend all four consecutive auction, per each participant and will be issued with special entrance card.

6.All payments including the entrance fees will be paid through the following bank account:

Bank Institution -CitibankBank Institution Citibank
Bank Account No – 100749041Bank Account No 100749068
Description TZSDescription – USO
Bank Name- PANGEA MINERALS LIMITEDBank Name PANGEA MINERALS LIMITED paid within four days after the sealed price which shall be paid at the end of auction and the balance of seventy-five percent (75%) shall

 8.Where the balance of seventy-five percent (75%) is not paid as specified, the bid shall lapse and the loti respect of which the balance is outstanding shall be reoffered for sale.

9.The Seller shall not give warranty on the quality, quantity, packaging condition or any other particulars of the assets I goods offered for sale as such an item is auctioned AS-Island thus request for replacement or refund shall not be accepted.

10.Goods purchased at an auction shall be removed from the warehouse/yard within ten (10) days and where the purchaser fails to remove the goods, he or she shall be liable to pay the ware- house rent and any other charges with effect from the date of sale up to the date of removal.

11.Where the purchased assets/goods are not removed from the warehouse/yard, they may be reoffered for sale upon expiration of time for removing items.

12.If the winner fails to pay within the prescribed time above, he/she will be blacklisted as a defaulter.

13.For claiming items, the winner shall present) A valid copy of paid payment bill and bank receipt b} Power of attorney incase owner sends representative provide proper identification such as Passport, National 1.0 or valid Driver’s licensed} TRA confirmation release documents to confirm payments of tax e). Third party claims shall not be entertained.

14.Sellers reserves the right to cancel/with drawl the auction at any time, when need may arise, in accordance with the laws, rules and regulations governing the auction process.

15.Bidders are strictly warned of any malpractice which includes but not limited to feeding wrong information failing to pay bid amount upon winning the bid within the prescribed period. Failure to abide to this condition infringes the Economic and Organized Crime Control Act. Cap 200 and it amount to serious offense.

16.Termsand Conditions of this auction are to be carefully considered by an interested person before registration.

17.Bidders are advised to use registered tax consultants, Clearing AND Forwarding Agents, Logistic Companies in transporting abnormal luggage, the auctioneers may recommend or assist to quote the service providers upon request by the purchaser but exempted from any liability on their contractual obligations.

 19.The auction will believe with web cast.

20.Sellers will not be responsible for any errors in description, all goods are sold with no duty to repair.

21.The participation fees paid will be refunded with 14 days to client respective accounts.

For any clarification contact: Best Group (T) Ltd

Postal Address: 1088 DAR ESSALAAM Email Address: [email protected]

Mobile No:+255 715 363 537 or +255 758 265 509

Jakoef Jacobs Aucor Mining

Mobile: +278 2444 4088

Email:[email protected]


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