Twiga partnership creates sustainable value for stakeholders

TANZANIA: BARRICK Gold Corporation and the Tanzanian government are demonstrating how mining can be an enormous force for good when miners and their host governments work together to create sustainable value for all stakeholders, says president and Chief Executive Mark Bristow.

Speaking to media on Sunday Bristow said Barrick’s pioneering Twiga partnership with the government, which equally shares the economic benefits generated by the North Mara and Bulyanhulu mines, should be a model for successful cooperation, notably in developing countries.

Not only is Barrick now the largest contributor to the Tanzanian economy through taxes, salaries, dividends, payments to local suppliers and investment in community projects, but it is also proving the country’s investability to other international mining companies.

Since taking over the two moribund mines in 2019, Barrick has transformed them into a world-class gold mining complex making a substantial contribution to the company’s bottom line.

In that time, it has contributed more than 3 billion US dollars to the Tanzanian economy, with Twiga this year recognised as the largest dividend payer of all the companies in which the government has an interest.

The mines spent 84 per cent of their procurement budgets with local companies and Tanzanian citizens accounting for 96 per cent of their workforce.

In the same spirit of partnership, Barrick has committed 40 million US dollars to a road building programme and a further 30 million US dollars to the improvement of the country’s education facilities.

Both mines are well on track to achieve their production guidance for 2023 as well as to replace reserves depleted by mining.

In the meantime, exploration across Barrick’s licence areas has highlighted new development opportunities across these areas, including a potential new underground mine at North Mara.

“Our Twiga partnership is not only adding value to the Tanzanian economy but to the quality of the lives of the communities around its mines as they continue to grow.

Our continued engagement with these communities and their village leaders, local NGOs and human rights organisations demonstrates Barrick’s partnership philosophy and our commitment to upholding human rights standards in the regions in which we operate,” Bristow said.

Mr Bristow also handed over to Tarime District Council (Rural) a Toyota Land Cruiser car provided by Barrick for monitoring of social projects implemented due to Corporate Social Responsibility (CSR) funds provided by Barrick North Mara Mine.

North Mara Mine is currently implementing more than 100 CSR projects in the Mara Region.

Tarime District Commisioner, Colonel Michael Mntenjele, said the car is important in facilitating the implementation of CSR projects funds from Barrick.

“We are grateful to Barrick for the vehicle donation, as it will help our staff to get easy access to projects on time so  that projects can be  timely implemented and thus  benefit our people,” said Colonel Mntenjele.

Barrick North Mara Gold Mine has spent more than 7bn/- to finance the implementation of various social projects through the CSR   programme in all the 88 villages of Tarime District Council on which 70 per cent of the funds will be directed in the surrounding villages.

During that event, traditional leaders from all the clans of the Kurya tribe gave the President and CEO of Barrick, Bristow, a gift of a goat as a sign of recognition of the company’s contribution to the development of the people of Tarime.

Related Articles

Back to top button