Barrick Gold’s Twiga JV Drives Significant Economic Impact in Tanzania
Barrick Gold has contributed over $4.24 billion to the Tanzanian economy since the inception of its Twiga joint venture (JV) with the government in 2019. In 2024 alone, its investment amounted to $888 million.
Twiga encompasses the North Mara and Bulyanhulu gold mines. Barrick President and CEO Mark Bristow highlighted the ongoing success of the Twiga partnership, emphasizing its leadership in Tanzania’s extractive sector. The JV has created thousands of jobs, supported local businesses, and funded essential community projects.
In 2023, Barrick spent $573 million on national suppliers and service providers, making up 83% of its total in-country expenditure. Of this, 75% of payments went to indigenous companies, surpassing its target of 61%.
Barrick’s commitment to local employment is evident, with 96% of its 6,185-strong workforce being Tanzanian nationals, 53% of whom come from the communities near the mines.
The company has also invested over $5 million in 2023 alone in potable water, healthcare, and education, bringing its total community project investment to $15.8 million since 2019.
The combined production guidance for Bulyanhulu and North Mara in 2024 is expected to exceed 500,000 ounces, reaffirming their status as a Tier 1 complex. Both mines also achieved a full year without a lost-time injury.
The Buzwagi mine has made significant strides in its closure implementation, with a focus on environmental management, water management, and vegetation maintenance.
In addition, a Special Economic Zone (SEZ) is under development, drawing significant investor interest, with one investor already obtaining export processing zone registration.
The Barrick Academy, which opened at Buzwagi in 2023, has trained 1,700 individuals so far, with a target of training over 2,800 people by the end of the year. The academy focuses on developing foremen, supervisors, and superintendents for Barrick’s operations.
Barrick has also replenished reserves at both North Mara and Bulyanhulu through successful conversion drilling. On the exploration front, Barrick continues to expand its footprint in the Nzega District, adding more than 2,000 km² to its holdings, which will support mineral reserve growth and help identify Tier 1 systems in the region.
Twiga has received several accolades for its safety, environmental performance, and community engagement. North Mara was recognized in 2024 as Tanzania’s largest economic contributor in the extractive industry and received awards for its commitment to occupational health and safety, corporate social responsibility, and local content compliance.
