Barrick’s Tanzania Mines advancing to tier one status
Barrick’s President and Chief Executive Officer, Mark Bristow speaks to the reporters who visited the Bulyanhulu mine in Shinyanga region yesterday when announcing the production of 500,000 ounces of gold at the North Mara and Bulyanhulu mines in late 2021. Left is Minerals Minister Dotto Biteko and Shinyanga Regional Commissioner Sophia Mjema (Right).
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) –North Mara and Bulyanhulu, which were moribund gold mines when Barrick took over their management two years ago, delivered a combined production of more than 500,000 ounces1 in 2021, meeting a key criterion for member-ship of the company’s elite Tier One2 portfolio.
The within-guidance performance was achieved with both mines retaining their ISO 45001 safety and ISO 14001 environmental accreditations, in common with Barrick’s other operations.
The President and Chief Executive Officer of Barrick Mark Bristow (left) briefs the Minister for Minerals Dotto Biteko, the Minister for Regional Administration and Local Government Innocent Bashungwa and Shinyanga Regional Commissioner Sophia Mjema (Third from left) on how electronic underground mining plant operates. Barrick announced a target of 500,000 ounces in gold production at North Mara and Bulyanhulu mines by the end of 2021.
North Mara is on track to become a fully integrated mine with the planned commissioning of the Nyabirama pit during the current quarter and the scheduled commencement of the Nyabigena pit in the third quarter of 2022.
This is expected to add substantial resources and increased flexibility to its plan. Bulyanhulu has been re-established as a world-class, low-cost, long-life underground mine as it achieved steady state production on the successful ramp-up of its mining and metallurgical operations in December 2021.
Both mines are expected to report a significant growth of their mineral reserves, net of depletion, for 2021. Barrick has increased its footprint around Bulyanhulu through the acquisition of six highly prospective licenses bordering the mine, and its exploration teams are also looking elsewhere in Tanzania for new opportunities. Speaking to local media here today, Barrick president and chief executive Mark Bristow said the mines’ performance had been supported by reinforced Covid-19 protocols and the roll-out of vaccines to its workforce, 26.45% of whom have already been partially vaccinated and 20.25% fully vaccinated.
Bulyanhulu mining experts demonstrate how an electronic mining system works.
Barrick is working closely with the country’s health authorities to supply four PCR machines to hospitals around the mines. The mines also continued to recruit and upskill local people.
Tanzanian nationals now account for 96% of their workforce, with 41% drawn from the surrounding villages. They are also strengthening their partnerships with local suppliers. Since Barrick re-entered Tanzania in 2019, it has spent more than $1.8 billion in taxes, salaries and payments to local businesses.
It has also invested $6.7 million in community education, health and infra-structure projects. Referring to Barrick’s recently published Human Rights Report, Bristow said the environmental and other issues it had inherited from the mines’ previous operators had been or were being settled.
The company’s significant progress on this front was exemplified by last month’s landmark completion of the restoration of North Mara’s tailings facility pond to within its permitted design capacity, Bristow said. The rehabilitated facility has been complemented by a new high recovery water treatment plant.
