Tanzania has renewed the Special Mining Licenses for Barrick Mining Corporation’s North Mara gold mine for a 15-year term. The extension supports continued long-term investment in the mine, a key part of Barrick’s operations in the country.
Barrick and the Tanzanian government established Twiga Minerals in 2019 as a joint venture to operate North Mara. The government holds a 16% interest in the mine. The partners share its economic benefits on a 50-50 basis.
Since taking over in 2019, Barrick has contributed approximately $5.3 billion to Tanzania’s economy through various payments.