Barrick Mining (TSX:ABX) has secured the long-term future of one of its cornerstone African assets after receiving a 15-year licence renewal for its North Mara Gold Mine in Tanzania.
Located in the Tarime District near the Kenyan border, North Mara comprises open-pit and underground mining operations across two deposits, supported by an 8,000-tonne-per-day processing plant.
The mine complex has been producing gold since 2002 and was previously held by Barrick spinoff Acacia Mining before being reacquired by the company in 2019.
North Mara has since operated under a partnership with the Tanzanian Government, with Barrick holding an 84% indirect interest in each of the two mines.
“This is an important milestone for North Mara and for our partnership with Tanzania,” says Seb Bock, Barrick’s recently named CEO of its Rest of World business.
Local employment expands
According to Barrick, North Mara has increased local employment and expanded economic benefits for surrounding communities since it regained operational control.
Tanzanian nationals now account for 96% of Barrick’s approximately 3,000-person workforce in the country, with 47% drawn from communities surrounding its mines, the company estimates.
“Relations at North Mara Mine have strengthened since Barrick took over,” Tarime District Commissioner Major Edward Gowele says.
“Residents now really view the mine as a community partner.”
Barrick says it has injected approximately US$5.3 billion ($7.6 billion) into the Tanzanian economy since 2019 through taxes, royalties, salaries, dividends, and local procurement.
This included around US$1.2 billion in 2025 alone, as it previously highlighted.
Write to Jackson Chen at Mining.com.au
Main Image: Barrick Mining
