Tanzania Extends North Mara Gold Mine Licence by 15 Years

Tanzania has extended the Special Mining Licences for the North Mara gold mine by another 15 years, giving Barrick Mining Corporation a longer horizon to invest in the operation and its surrounding communities.

The renewal secures the mine’s operating rights beyond the current licence period and comes as Barrick continues to expand its economic ties with Tanzania. The company says it has injected approximately 5.3 billion US dollars into the Tanzanian economy since taking over operations in 2019, including 1.2 billion US dollars in 2025.

The contribution includes taxes, royalties, salaries, dividends and spending on local suppliers. More than 90 percent of Barrick’s procurement is sourced from companies registered in Tanzania, with most of those suppliers classified as indigenous companies.

North Mara employs about 3,000 people, 96 percent of whom are Tanzanian nationals. Nearly half of the workforce is drawn from communities around the mine, according to Barrick.

The mine is operated through Twiga Minerals, a partnership established in 2019 between Barrick and the Tanzanian government to run North Mara and the Bulyanhulu mine. The government holds a 16 percent stake in each operation, while the partners share the economic benefits equally.

The licence renewal is expected to support continued investment in the mine, its workforce and nearby communities. Community Development Committees participate in determining priorities for local projects, including schools, clinics and roads.

“This is an important milestone for North Mara and for our partnership with Tanzania,” said Seb Bock, chief executive officer of Barrick’s Rest of World business. He said the company had worked with the government and local communities since 2019 to strengthen the partnership and expand opportunities for Tanzanians.

The renewal also comes after a year in which Barrick received several awards from the Tanzanian government, including recognition as the country’s top dividend payer and highest contributor to government revenue.

Relations between the mine and surrounding communities have also improved, according to local authorities.

“Relations at North Mara Mine have strengthened since Barrick took over,” said Tarime District Commissioner Major Edward Gowele. “Residents now really view the mine as a community partner.”

Source: FSX Business News