Five Years On, Barrick鈥檚 Twiga Partnership Delivers Growth and Shared Value for Tanzania
Barrick Mining Corporation (NYSE:B) celebrates five years of its Twiga partnership with the Tanzanian government, demonstrating significant achievements in sustainable mining development. The company has injected $4.79 billion into Tanzania's economy, including $558 million in H1 2025.
Key operational highlights include over 90% procurement from Tanzanian suppliers and a 96% Tanzanian workforce. The partnership launched a $30 million Future Forward education programme with the government, expanding school infrastructure to accommodate 45,000 additional pupils. Both Bulyanhulu and North Mara mines are performing as planned, with significant infrastructure improvements and exploration activities targeting resource extensions.
Barrick Mining Corporation (NYSE:B) celebra cinque anni di collaborazione con il governo della Tanzania attraverso la sua partnership Twiga, evidenziando importanti risultati nello sviluppo minerario sostenibile. L'azienda ha investito 4,79 miliardi di dollari nell'economia tanzaniana, di cui 558 milioni di dollari nel primo semestre del 2025.
I principali risultati operativi includono oltre il 90% degli approvvigionamenti da fornitori tanzaniani e una forza lavoro composta al 96% da tanzaniani. La partnership ha lanciato un programma educativo Future Forward da 30 milioni di dollari insieme al governo, ampliando le infrastrutture scolastiche per accogliere 45.000 studenti in pi霉. Le miniere di Bulyanhulu e North Mara stanno operando secondo i piani, con importanti miglioramenti infrastrutturali e attivit脿 di esplorazione volte all'estensione delle risorse.
Barrick Mining Corporation (NYSE:B) celebra cinco a帽os de su asociaci贸n Twiga con el gobierno de Tanzania, demostrando logros significativos en el desarrollo minero sostenible. La empresa ha invertido 4.79 mil millones de d贸lares en la econom铆a tanzana, incluyendo 558 millones de d贸lares en el primer semestre de 2025.
Los aspectos operativos clave incluyen m谩s del 90% de compras a proveedores tanzanos y una fuerza laboral tanzana del 96%. La asociaci贸n lanz贸 un programa educativo Future Forward de 30 millones de d贸lares junto con el gobierno, ampliando la infraestructura escolar para acomodar a 45,000 alumnos adicionales. Las minas Bulyanhulu y North Mara est谩n funcionando seg煤n lo previsto, con importantes mejoras en infraestructura y actividades de exploraci贸n dirigidas a la extensi贸n de recursos.
Barrick Mining Corporation (NYSE:B)電� 韮勳瀽雼堨晞 鞝曤秬鞕�鞚� Twiga 韺岉姼雱堨嫮 5欤茧厔鞚� 旮半厫頃橂┌ 歆�靻� 臧�電ロ暅 甏戩偘 臧滊皽鞐愳劀 欷戩殧頃� 靹标臣毳� 氤挫棳欤缄碃 鞛堨姷雼堧嫟. 須岇偓電� 韮勳瀽雼堨晞 瓴届牅鞐� 47鞏� 9觳滊 雼煬毳� 韴瀽頄堨溂氅�, 攴� 欷� 2025雲� 靸侂皹旮办棎 5鞏� 5,800毵� 雼煬毳� 韴瀰頄堨姷雼堧嫟.
欤检殧 鞖挫榿 靹标臣搿滊姅 韮勳瀽雼堨晞 瓿店笁鞐呾泊搿滊秬韯� 90% 鞚挫儊 臁半嫭瓿� 韮勳瀽雼堨晞鞚� 攴茧鞛� 牍勳湪 96%臧� 韽暔霅╇媹雼�. 鞚� 韺岉姼雱堨嫮鞚� 鞝曤秬鞕� 頃粯 3觳滊 雼煬 攴滊鞚� Future Forward 甑愳湣 頂勲攴鸽灗鞚� 鞁滌瀾頃橃棳 45,000氇呾潣 於旉皜 頃欖儩鞚� 靾橃毄頃� 靾� 鞛堧弰搿� 頃欔祼 鞚疙攧霛茧ゼ 頇曥灔頄堨姷雼堧嫟. Bulyanhulu鞕� North Mara 甏戩偘鞚� 瓿勴殟雽�搿� 鞖挫榿 欷戩澊氅�, 鞛愳洂 頇曥灔鞚� 氇╉憸搿� 頃� 鞚疙攧霛� 臧滌劆 氚� 韮愳偓 頇滊彊鞚� 頇滊皽頌� 歆勴枆霅橁碃 鞛堨姷雼堧嫟.
Barrick Mining Corporation (NYSE:B) c茅l猫bre cinq ans de son partenariat Twiga avec le gouvernement tanzanien, mettant en avant des r茅alisations significatives dans le d茅veloppement minier durable. La soci茅t茅 a inject茅 4,79 milliards de dollars dans l'茅conomie tanzanienne, dont 558 millions de dollars au premier semestre 2025.
Les points op茅rationnels cl茅s incluent plus de 90 % des achats aupr猫s de fournisseurs tanzaniens et une main-d'艙uvre compos茅e 脿 96 % de Tanzaniens. Le partenariat a lanc茅 un programme 茅ducatif Future Forward de 30 millions de dollars avec le gouvernement, 茅largissant les infrastructures scolaires pour accueillir 45 000 茅l猫ves suppl茅mentaires. Les mines de Bulyanhulu et North Mara fonctionnent comme pr茅vu, avec d'importantes am茅liorations des infrastructures et des activit茅s d'exploration visant 脿 茅tendre les ressources.
Barrick Mining Corporation (NYSE:B) feiert f眉nf Jahre Partnerschaft mit der tansanischen Regierung im Rahmen von Twiga und zeigt dabei bedeutende Erfolge in der nachhaltigen Bergbauentwicklung. Das Unternehmen hat 4,79 Milliarden US-Dollar in die tansanische Wirtschaft investiert, darunter 558 Millionen US-Dollar im ersten Halbjahr 2025.
Wichtige operative Highlights sind 眉ber 90% Beschaffung von tansanischen Lieferanten sowie eine 96% tansanische Belegschaft. Die Partnerschaft startete gemeinsam mit der Regierung ein 30 Millionen US-Dollar Future Forward Bildungsprogramm, das die Schulinfrastruktur erweitert, um 45.000 zus盲tzliche Sch眉ler aufzunehmen. Die Minen Bulyanhulu und North Mara laufen planm盲脽ig mit bedeutenden Infrastrukturverbesserungen und Erkundungsaktivit盲ten zur Ressourcenerweiterung.
- Invested $4.79 billion in Tanzania's economy, with $558 million in H1 2025
- 90% of procurement from Tanzanian suppliers and 96% local workforce employment
- $30 million joint investment in education infrastructure
- Operational improvements at Bulyanhulu mine with new fleet and infrastructure
- Active exploration programs at North Mara and Bulyanhulu for resource extension
- Development of Special Economic Zone at Buzwagi mine post-closure
- Ongoing need to rebuild community relationships around North Mara mine
- Closure of Buzwagi mine operations
- Power reliability issues at North Mara requiring new battery storage system
Insights
Barrick's Twiga partnership shows strong results in Tanzania with $4.79B economic injection while maintaining production and advancing exploration.
The five-year Twiga partnership between Barrick and Tanzania demonstrates a successful model for mining companies operating in developing nations. The $4.79 billion economic injection since 2019 ($558 million in H1 2025 alone) represents significant capital commitment to the region. What's particularly notable is the 90% local procurement rate and 96% Tanzanian workforce, showing Barrick's commitment to creating sustainable local economic value beyond mere resource extraction.
Operationally, both North Mara and Bulyanhulu mines are performing in line with production guidance, which is critical for maintaining investor confidence. The infrastructure investments at Bulyanhulu (Upper West decline development, ventilation and dewatering systems) aren't just maintenance capital but strategic positioning to extend mine life for decades. Similarly, North Mara's battery energy storage system addresses a fundamental operational risk in regions with unreliable power infrastructure.
The active exploration program targeting Gokona, Gena, and Bulyanhulu's Reef 1 and 2 structures represents essential investment in reserve replacement. Mining companies must continuously replenish reserves to maintain production profiles, and Barrick's brownfield and greenfield exploration (including Siga and Nzega prospects) indicates confidence in Tanzania's geological potential.
Most telling is the approach to Buzwagi's closure. Rather than simply winding down operations, the development of a Special Economic Zone and the Barrick Academy (training 2,800+ mining professionals) demonstrates the company's long-term regional commitment. This moves beyond the typical mine lifecycle to create enduring economic infrastructure.
The $30 million Future Forward education program co-investment with the government exemplifies how mining companies can align social investment with national development priorities while building crucial government relationships. This partnership approach is increasingly essential in jurisdictions where resource nationalism is a growing concern.
All amounts expressed in US dollars
BULYANHULU, Tanzania, July 07, 2025 (GLOBE NEWSWIRE) -- Five years after its formation, the Twiga partnership between Barrick Mining Corporation (NYSE:B)(TSX:ABX) and the government of Tanzania continues to redefine the role of mining in national development, delivering shared value, operational excellence and long-term investment in the country鈥檚 future.
Speaking at a media briefing here today, Barrick president and chief executive Mark Bristow said the partnership had created a sustainable model for mineral development in Tanzania.
鈥淲hen we established Twiga, it was about more than just resolving legacy issues. It was about building a new future by unlocking Tanzania鈥檚 gold endowment in a way that fairly shares the benefits and builds lasting value for all stakeholders. Five years on, we鈥檝e not only re-established Barrick as the sector鈥檚 leading economic contributor but have also earned national recognition across a range of areas from safety and local content to education and infrastructure,鈥� Bristow said.
Since Barrick took operational control in 2019, the company has injected
A standout example of the Twiga partnership in action is the Future Forward education programme, a joint
Barrick鈥檚 Tanzanian mines continue to deliver in line with guidance. At Bulyanhulu, development of the Upper West decline is well advanced, supported by the arrival of a new fleet and improved access through expanded infrastructure. The mine has benefited from focused investment in ventilation and dewatering systems. These improvements are unlocking bottlenecks, improving flexibility and positioning Bulyanhulu to produce gold for decades to come.
At North Mara, a newly commissioned battery energy storage system is addressing power reliability, while underground and open-pit mining are progressing according to plan. Community resettlement activities are nearing completion, and the mine continues to build trust and its social license.
鈥淥ur partnership with host communities is fundamental to our presence in Tanzania. We鈥檝e had to work hard to rebuild relationships, particularly around North Mara, and we are seeing the benefits of consistent engagement and delivery on our commitments,鈥� he said.
At the same time, Barrick is actively investing in exploration to secure the future of its Tanzanian operations. Current drilling programmes are targeting resource extensions at Gokona and Gena within the North Mara complex, and along Reef 1 and Reef 2 style structures in the Bulyanhulu inlier. Airborne geophysics and drilling are also planned for the newly consolidated Siga and Nzega greenfields prospects. These endeavours are aimed at replacing the ounces being mined today and building a healthy pipeline for tomorrow.
Even at Buzwagi, now in closure, the focus remains on long-term value creation. A Special Economic Zone is being developed there with several investors already engaged. The Barrick Academy is on track to train more than 2,800 supervisors and foremen from across the region by year-end, furthering Barrick鈥檚 contribution to the development of Africa鈥檚 mining talent.
鈥淥ur commitment to Tanzania didn鈥檛 end when the ore ran out at Buzwagi. We鈥檙e leaving behind infrastructure and institutions that will benefit the country well into the future,鈥� said Bristow.
Reflecting on Twiga鈥檚 five-year journey, Bristow said the partnership had not only stabilized operations but created a platform for long-term value delivery through shared ownership, local empowerment, and a responsible approach to development.
鈥淭wiga is more than a company. It is a model for what mining can be when it鈥檚 done right, in partnership and with purpose,鈥� he said.
Barrick Enquiries
Tanzania country manager
Melkiory Ngido
+255 686 945 222
Group investor and media relations
Kathy du Plessis
+44 20 7557 7738
[email protected]
CAUTIONARY STATEMENT ON FORWARD LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes 鈥渇orward-looking statements鈥�. All statements, other than statements of historical fact, are forward-looking statements. The words 鈥渙n track鈥�, 鈥渃ontinue鈥�, 鈥減rogress鈥�, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick鈥檚 partnership with the Government of Tanzania; our ability to convert resources into reserves and replace reserves net of depletion from production; Barrick鈥檚 global exploration strategy and planned exploration activities, including greenfields and brownfields opportunities in Tanzania; and Barrick鈥檚 sustainability initiatives in Tanzania, including local community relations, continued investments in community projects, training and skills development and economic contributions.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management鈥檚 experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Tanzania and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company鈥檚 expectations; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick鈥檚 targeted investments and projects will meet the Company鈥檚 capital allocation objectives and internal hurdle rate; damage to the Company鈥檚 reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company鈥檚 handling of environmental matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to related to greenhouse gas emission levels, energy efficiency and reporting of risks; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick鈥檚 ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
FAQ
What has Barrick Mining (NYSE:B) achieved in its 5-year Twiga partnership with Tanzania?
How much did Barrick Mining invest in Tanzania during first half of 2025?
What are the current developments at Barrick's Bulyanhulu mine?
What is happening with Barrick's Buzwagi mine in Tanzania?
What percentage of Barrick's workforce in Tanzania is local?
