Barrick Gold hailed as tax benchmark with $92m payment to Tanzania

Bulyanhulu. The government has praised Barrick Gold Corporation for its exceptional tax compliance, highlighting the company’s $92 million income tax payment in 2024 as a benchmark for the mining sector.

Barrick, which operates in partnership with the government under Twiga Minerals Corporation, increased its tax contribution from $58 million in 2023. In 2022, the company paid $112 million.

Since 2019, Twiga Minerals has contributed over $4.24 billion to Tanzania’s economy, including $1.37 billion in government taxes and levies.

A TRA delegation led by Commissioner General Yusuph Mwenda recently visited Barrick’s Bulyanhulu Mine in Msalala District, Shinyanga Region, to engage with management and discuss the company’s operations.

Mr Mwenda said the visit aimed to understand the challenges faced by compliant taxpayers like Barrick to ensure their continued efficient operation.

“Barrick not only contributes directly to the government through taxes, but also indirectly through employees, contractors and suppliers who pay taxes. Supporting them benefits the economy,” he said.

He added that TRA seeks to partner with all taxpayers to improve the business environment and praised Barrick’s corporate social responsibility initiatives, including water, road, and school projects benefiting local communities.

Barrick Bulyanhulu Acting General Manager Leon Ebondo welcomed the TRA team, emphasising that the mine employs numerous permanent workers and engages local contractors, creating employment opportunities for nearby communities.

Twiga Minerals Corporation also operates North Mara Gold Mine in Tarime District, Mara Region, which won a TRA award for tax compliance in 2023/24.

The former Buzwagi Mine in Shinyanga has been converted into a special economic zone.

This visit underscores the government’s appreciation for responsible mining operations that contribute significantly to national revenue.