Browsing: Barrick in Tanzania

The Government of Tanzania and Barrick Gold entered into a partnership last year, and created a new joint venture, Twiga Minerals Corporation. 

Barrick Gold’s one-year-old partnership with the Tanzanian government marked new ground as the Canadian miner was awarded 10 new exploration licenses this year and subsequently plans to spend $8 million on exploration, Barrick’s president and chief executive Mark Bristow said during a recent press briefing. 

According to Barrick, the North Mara mine—which was at the centre of scrutiny by the Tanzania government is now “re-energized and ahead of plan in the year to date and Bulyanhulu has resumed underground mining operations and is scheduled to restart processing of underground ore by the end of 2020 as a long-life underground mine”. 

All of these affairs operate under the new joint venture named—Twiga Minerals Corporation, in charge to oversee three gold mines, Bulyanhulu, North Mara and