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Barrick Gold Corporation has underscored its significant contribution to the Tanzanian economy, revealing that it injected over US$888 million into the country in 2024 alone. Since forming Twiga, its joint venture with the Tanzanian government in 2019, Barrick has contributed a total of over US$4.24 billion.
These figures were highlighted by Barrick President and CEO Mark Bristow during a recent media briefing. Bristow emphasized the company’s commitment to sustainable mining practices, emphasizing job creation, local business support, and substantial community investments.
“We spent US$573 million on national suppliers and service providers last year, representing about 83% of our total in-country spend,” Bristow said, further emphasizing that 75% of these payments went to indigenous companies, surpassing the company’s target of 61%.
A Model of Sustainable Mining
Barrick’s commitment to local employment is evident in its workforce, with 96% of its 6,185 employees being Tanzanian nationals. Furthermore, 53% of these employees hail from communities surrounding the mines. The company also invested over US$5 million in 2024 in community initiatives, including potable water, healthcare, and education, bringing the total community investment since 2019 to US$15.8 million.
Operationally, Twiga delivered impressive results in 2024, exceeding production guidance at both the Bulyanhulu and North Mara mines. Notably, both mines achieved a full year without a single Lost-Time Injury, a significant milestone in safety performance.
Investing in the Future
Barrick is actively investing in the long-term sustainability of its operations in Tanzania. Continued exploration efforts have expanded the company’s footprint in the Nzega District, securing over 2,000 square kilometers of new exploration areas to support future mineral reserve growth.
The Barrick Academy, established in 2024, is playing a vital role in developing local talent. This initiative, focused on training foremen, supervisors, and superintendents, has already trained 1,700 individuals and is on track to surpass its target of 2,800 by the end of 2025.
Industry Recognition
Twiga has received numerous accolades for its safety measures, environmental practices, and community engagement. North Mara was recognized as the largest economic contributor in Tanzania’s extractive industry and received awards for occupational health and safety, corporate social responsibility, and compliance with local content regulations.
“Barrick’s work in Tanzania is a model for sustainable mining that balances economic, environmental, and social responsibility,” said Bristow. “The recognition we have received speaks to our commitment to excellence and the value we bring to our host countries.”
These achievements underscore Barrick’s commitment to operating responsibly and contributing meaningfully to the economic and social development of Tanzania.
