Twiga Minerals wins best dividend payment award

Twiga Minerals Corporation has won an award on dividend payments in the minority interest category in companies where the government is a shareholder.

The award was presented by President Samia Suluhu Hassan when opening a three-day Chief Executive Officers’ (CEOs) and Heads of Institutions Forum organised by the Office of the Treasury Registrar in Arusha over the weekend.

The Treasury Registrar Mr Nehemia Mchechu said Twiga Minerals provided 84bn/- dividend in 2022/23, emerging the best company in the dividend payments in the minority interest category in companies.

Twiga Minerals is the joint venture between the government and Barrick Gold Corporation.

The Barrick Gold President and Chief Executive Officer, Mr Mark Bristow said recently that Twiga Minerals has to be an exemplary firm in all mining activities in the country because it brought new vitality in the sector.

He said since when it was established, the shareholders have been getting the 50:50 economic benefits with the government owning 16 per cent shares in each gold mine.

He said since when Barrick acquired shares from minority shareholders, the company has contributed over 2.8 billion US dollars to Tanzanian’s economy through various taxes, fees, dividends, salaries and payment to local suppliers.

Twiga Minerals owns North Mara, Bulyanhulu and Buzwagi gold mines.