Tanzania earns 4.79bn US dollars from the Barrick-Twiga partnership

KAHAMA: TANZANIA has reaped $ 4.79 billion from the Twiga-Barrick partnership, which marks its fifth year today.

The partnership has earned Tanzania 558m US Dollars in the first half of 2025 alone.

The Twiga partnership with Barrick Mining Corporation and the Tanzanian government reiterates the role of mining in national development, delivering shared values, distributed dividends, operational excellence, and long-term investment that fosters the country’s future prosperity.

Speaking at a media briefing in Kahama today, July 8, 2025, Barrick President and Chief Executive, Mark Bristow said the partnership had created a sustainable model for mineral development in Tanzania.

“When we established Twiga, it was about more than just resolving legacy issues.  It was about building a new future by unlocking Tanzania’s gold endowment in a way that fairly shares the benefits and builds lasting value for all stakeholders.

“Five years on, we’ve not only re-established Barrick as the sector’s leading economic contributor but have also earned national recognition across a range of areas from safety and local content to education and infrastructure,” Bristow said.

He said since Barrick took operational control in 2019, the company has injected 4.79bn US dollars into the Tanzanian economy, including 558m US dollars in the first half of 2025 alone.

He went on to say more than 90 percent of procurement continues to be with Tanzanian suppliers, the majority of whom are Indigenous companies, and 96 percent of the workforce is Tanzanian, with 49 percent of them coming from communities around the mine sites.

ALSO READ: How Barrick-Twiga initiative transforms education sector in Tanzania

A standout example of the Twiga partnership in action is the Future Forward education program, a joint 30m US dollars investment by Barrick and the government, with the President’s office, aimed at expanding school infrastructure across the country.  Now in its second phase, the program is set to provide classroom space for an additional 45,000 pupils.

Adding he said a Special Economic Zone is being developed there with several investors already engaged.

Reflecting on Twiga’s 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.

On his party, Deputy Minister for Minerals, Dr Steven Kiruswa speaking at the event while receiving Barrick’s quarterly performance report, said that the government will continue to provide strong operational cooperation with Barrick to support the significant investments made by the company in partnership with Twiga Minerals Corporation.

He said Twiga, a subsidiary company in which the government holds a 16 percent stake, is clear testimony of- win situation in the mining sector.

Dr. Kiruswa underscored that through cooperation between these companies, major investments have been made annually through various development projects carried out in collaboration with local communities surrounding the mine.

Clarifying to journalists about the Buzwagi mining, the Commissioner for Minerals, Dr. Abdulrahman Mwanga, stated that Buzwagi has now become a Special Economic Zone (SEZ), and several investors have shown interest in developing economic investments in the area.