Barrick, Twiga partnership injects Sh10.1 trillion into Tanzania’s economy

Dar es Salaam. Since forming the Twiga joint venture with the Tanzanian government in 2019, Barrick Gold Corporation has injected over Sh10.1 trillion into the Tanzanian economy.

In a statement by the mining company, in 2024 alone, the partnership contributed Sh2.1trillion, highlighting the significant role Twiga, which oversees the North Mara and Bulyanhulu gold mines, plays in the nation’s economic growth.

Barrick President and CEO, Mark Bristow, emphasised that the Twiga partnership has positioned itself as a leader in Tanzania’s extractive sector.

The initiative, he said, has not only created thousands of jobs but also provided crucial support to local businesses and funds community-driven projects aimed at improving the lives of Tanzanians.

A key aspect of Barrick’s success in Tanzania has been its focus on local content. In 2024, the company spent Sh1.3 trillion on national suppliers and service providers, making up 83 percent of its total in-country spending.

Most notably, the company said, 75 percent of the payments to the suppliers went to indigenous companies, surpassing the target of 61 percent.

“Our approach has always been to prioritize local employment and advancement,” Bristow said, pointing out that 96 percent of Barrick’s 6,185-strong workforce are Tanzanian nationals, with 53 percent hailing from the communities surrounding the mines.

According to Bristow, Barrick also continued its commitment to social responsibility, investing over Sh12 billion in essential services such as potable water, healthcare, and education in 2024.

To date, the company has invested Sh37.9 billion in community projects since taking operational control of the mines.

In terms of production, Barrick’s Tanzanian mines continued to perform strongly. Bulyanhulu and North Mara exceeded their 2024 production guidance, with output surpassing 500,000 ounces, securing their position as a Tier One mining complex.

Additionally, both mines marked a significant safety achievement, completing a full year without a Lost-Time Injury.

Barrick’s commitment to environmental sustainability was also underscored by developments at Buzwagi, where the mine made notable progress in its closure implementation and environmental management efforts.

The focus has been on water management and vegetation maintenance, with a Special Economic Zone (SEZ) under development to attract further investment.

The miner says education and workforce development remain top priorities for Barrick in Tanzania with the newly established Barrick Academy at Buzwagi, which opened in 2024, having already trained 1,700 individuals, with a target to exceed 2,800 by the end of 2025.

The academy focuses on developing talent for leadership roles, such as foremen, supervisors, and superintendents.

On the exploration front, Barrick said it has continued to make strides in expanding its reserves and resources.

Through its conversion drilling at both Bulyanhulu and North Mara, the company has replenished reserves and added over 2,000 square kilometers to its footprint in the Nzega District.

The expansion according to Barrick has played a crucial role in Barrick’s long-term strategy to identify and develop Tier One mining systems in the region.

Twiga’s achievements have not gone unnoticed, with the company receiving numerous accolades for its safety, environmental performance, and community engagement.

In 2024, North Mara was recognized as the largest economic contributor in Tanzania’s extractive industry and received awards for its commitment to occupational health and safety, corporate social responsibility, and local content compliance.

“Barrick’s work in Tanzania is a model for sustainable mining that balances economic, environmental, and social responsibility. The recognition we have received speaks to our commitment to excellence and the value we bring to our host countries,” Bristow concluded.

With a proven track record of driving economic growth, creating jobs, and fostering social development, the Twiga partnership remains a cornerstone of Barrick’s success in Tanzania, contributing to the country’s sustainable development while ensuring the long-term viability of its mining operations.