Barrick recognized as key socio-economic partner of Tanzania
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President and CEO
“When we took over these mines, they were a dying burden on the government and their investors. In a very short time, we redesigned and redesigned them, effectively creating two new mines. They are well placed to provide their annual production forecasts and have the potential to reach a combined level2 status in Barrick’s portfolio meaning they are capable of producing at least 500,000 ounces of gold per year for over 10 years at the lower end of the cost spectrum as a combined complex,” said Bristol.
“We continue to replace resources depleted by mining and we are also targeting new opportunities, increasing our footprint around Bulyanhulu through the acquisition of six highly prospective licenses. We are also updating geological models in the area of North Mara and identify potential targets elsewhere in Tanzania.
In line with Barrick’s local employment policy, Tanzanian nationals now make up 96% of the workforce at both mines and 64% of their senior managers are Tanzanian. The mines are also driving increased employment for women in a traditionally male-dominated industry through targeted recruitment and development programs.
Barrick is committed
Last quarter, Bulyanhulu was named Tanzanian OSHA overall winner (
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- 100% basis
- A Tier 1 gold asset is one with reserve potential to provide a minimum life of 10 years, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the life of mine that are in the lower half of the industry cost. curve.
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