Barrick-government partnership injects over 12trn/- into national economy

By Lake Zone Watch writer

The partnership of Barrick Mining Corporation and the Tanzania government through Twiga Minerals has injected over 12trn/- into the national economy, it has been disclosed.

Barrick President and Chief Executive Officer, Mark Bristow, told journalists on Monday at the Bulyanhulu Gold Mine in Kahama district, Shinyanga region, that the “partnership had created a sustainable model for mineral development in Tanzania.”

“When we started Twiga, it was more than just solving legacy issues. It was about building a new future by unlocking Tanzania’s gold endowment in a way that fairly shares the benefits and builds value for all stakeholders,” he said.

He added that “Five years on, we’ve not only re-established Barrick as the sector’s leading economic contributor but have also earned national recognition across a range of areas from safety and local content, to education and infrastructure,” 

He said when Barrick took operational control in 2019, the company has injected 4.79 billion US dollars (equivalent to Tsh 12 trillion) in the Tanzanian economy, including 558 million US dollars in the first of this year.

He said more than 90 per cent of procurement continues to be with Tanzanian suppliers, the majority of whom are indigenous companies, and 95 of the workforce is Tanzanian of which 45 per cent coming from communities from around the mine.

Bristow added that Barrick’s Tanzanian mines – Bulyanhulu and North Mara --continue to deliver in line with the guidance—particularly the improvement of the lives of nearby communities.

The Barrick President and CEO expressed jhis happiness for the decline of conflicts at the North Mara Gold Mine, thanking stakeholders for the current harmonious relations between neighbouring villagers and mine authorities.

For his part, Deputy Minister for Minerals, Stephen Kiruswa, said the Barrick-Tanzania partnership was a living example of how transparent leadership can bear fruits.

He said the involvement of local content has played a key role in the nurturing of partnership to become fruitful.

Meanwhile, Bristow donated 80m/- to four groups in four regions of Shinyanga, Mara, Coast and Ddooma to help them improve their welfare.