Modern Mining March 2025

Barrick’s Twiga partnership drives value creation in Tanzania’s economy Dual-listed Barrick Gold Corporation has injected over $4.24 billion into the Tanzanian economy since establishing the Twiga joint venture with the

government in 2019, contributing $888 million in 2024 alone. Twiga comprises the North Mara and Bulyanhulu gold mines. At a media briefing, Barrick CEO, Mark Bristow said the Twiga partnership remained a leader in Tanzania’s extractive industry, creating thousands of jobs, supporting local businesses and funding critical community projects. “We spent $573 million on national suppliers and service providers last year, representing about 83% of our total spend in-country. Additionally, 75% of all our payments to suppliers and service providers went to indigenous companies, exceeding our target of 61%,” Bristow said. Thanks to Barrick’s policy of local employment and advancement, 96% of its 6,185-strong workforce are nationals. n

Barrick has injected over $4.24 billion into the Tanzanian economy since establishing the Twiga JV with the government in 2019.

MARCH 2025 | www.modernminingmagazine.co.za  MODERN MINING  5