NYSE- and TSX-listed Barrick Gold has injected more than $4.24-billion into the Tanzanian economy since establishing the Twiga joint venture (JV) with the government in 2019.

Its contribution for 2024 alone was $888-million.

Twiga comprises the North Mara and Bulyanhulu gold mines.
 
Barrick president and CE Mark Bristow said on January 23 that 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.
 
Barrick’s policy of local employment and advancement means that 96% of its 6 185-strong workforce are Tanzanian nationals, with 53% coming from the communities that neighbour the mines. 

Barrick also invested more than $5-million over the past year in potable water, healthcare and education, taking the total investment in community projects to $15.8-million since Barrick formed the Twiga JV and assumed operational control of the Tanzanian mines in 2019.
 
The Bulyanhulu and North Mara production guidance for 2024 exceeded 500 000 oz, maintaining the status as a Tier 1 complex. Additionally, both mines achieved a full year without a lost-time injury. 
 
The Buzwagi mine has made significant progress with its closure implementation, and environmental management and monitoring progressed with a focus on water management and vegetation maintenance. 

Moreover, a special economic zone (SEZ) is in the advanced stages of development, attracting interest from investors, with one already obtaining export processing zone registration.
 
The Barrick Academy, which opened at Buzwagi last year, is helping to develop talent for Barrick.  With a focus on training foremen, supervisors and superintendents, the academy has already trained 1 700 individuals and is on track to exceed its target of training more than 2 800 people by the end of the year. 
 
Conversion drilling at both mines has replenished their reserves after depletion and, on the exploration front, Barrick continues to consolidate a prospective footprint in the Nzega District, adding more than 2 000 km² of new areas to support mineral reserve growth and replenishment at North Mara and Bulyanhulu. This expansion is also key to Barrick's long-term strategy to identify Tier 1 systems in the region.

Twiga received several accolades in the past year, including recognition for its safety, top employer, environmental performance and community engagement. In 2024, North Mara was recognised as the largest economic contributor in Tanzania’s extractive industry and received several awards for its commitment to occupational health and safety, corporate social responsibility and local content compliance.