{"id":866848,"date":"2025-07-07T08:38:34","date_gmt":"2025-07-07T12:38:34","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/"},"modified":"2025-07-07T08:38:34","modified_gmt":"2025-07-07T12:38:34","slug":"five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/","title":{"rendered":"Five Years On, Barrick\u2019s Twiga Partnership Delivers Growth and Shared Value for Tanzania"},"content":{"rendered":"
\n

\n All amounts expressed in US dollars<\/em>\n <\/p>\n

BULYANHULU, Tanzania, July 07, 2025 (GLOBE NEWSWIRE) — Five years after its formation, the Twiga partnership between Barrick Mining Corporation (NYSE:B)(TSX:ABX) and the government of Tanzania continues to redefine the role of mining in national development, delivering shared value, operational excellence and long-term investment in the country\u2019s future.<\/p>\n

Speaking at a media briefing here today, Barrick president and chief executive Mark Bristow said the partnership had created a sustainable model for mineral development in Tanzania.<\/p>\n

\u201cWhen we established Twiga, it was about more than just resolving legacy issues. It was about building a new future by unlocking Tanzania\u2019s gold endowment in a way that fairly shares the benefits and builds lasting value for all stakeholders. Five years on, we\u2019ve not only re-established Barrick as the sector\u2019s leading economic contributor but have also earned national recognition across a range of areas from safety and local content to education and infrastructure,\u201d Bristow said.<\/p>\n

Since Barrick took operational control in 2019, the company has injected $4.79 billion into the Tanzanian economy, including $558 million in the first half of 2025 alone. More than 90% of procurement continues to be with Tanzanian suppliers, the majority of whom are indigenous companies, and 96% of our workforce is Tanzanian with 49% coming from communities around the mine.<\/p>\n

A standout example of the Twiga partnership in action is the Future Forward education programme, a joint $30 million investment by Barrick and the government, with the President\u2019s office, aimed at expanding school infrastructure across the country. Now in its second phase, the programme is set to provide classroom space for an additional 45,000 pupils.<\/p>\n

Barrick\u2019s Tanzanian mines continue to deliver in line with guidance. At Bulyanhulu, development of the Upper West decline is well advanced, supported by the arrival of a new fleet and improved access through expanded infrastructure. The mine has benefited from focused investment in ventilation and dewatering systems. These improvements are unlocking bottlenecks, improving flexibility and positioning Bulyanhulu to produce gold for decades to come.<\/p>\n

At North Mara, a newly commissioned battery energy storage system is addressing power reliability, while underground and open-pit mining are progressing according to plan. Community resettlement activities are nearing completion, and the mine continues to build trust and its social license.<\/p>\n

\u201cOur partnership with host communities is fundamental to our presence in Tanzania. We\u2019ve had to work hard to rebuild relationships, particularly around North Mara, and we are seeing the benefits of consistent engagement and delivery on our commitments,\u201d he said.<\/p>\n

At the same time, Barrick is actively investing in exploration to secure the future of its Tanzanian operations. Current drilling programmes are targeting resource extensions at Gokona and Gena within the North Mara complex, and along Reef 1 and Reef 2 style structures in the Bulyanhulu inlier. Airborne geophysics and drilling are also planned for the newly consolidated Siga and Nzega greenfields prospects. These endeavours are aimed at replacing the ounces being mined today and building a healthy pipeline for tomorrow.<\/p>\n

Even at Buzwagi, now in closure, the focus remains on long-term value creation. A Special Economic Zone is being developed there with several investors already engaged. The Barrick Academy is on track to train more than 2,800 supervisors and foremen from across the region by year-end, furthering Barrick\u2019s contribution to the development of Africa\u2019s mining talent.<\/p>\n

\u201cOur commitment to Tanzania didn\u2019t end when the ore ran out at Buzwagi. We\u2019re leaving behind infrastructure and institutions that will benefit the country well into the future,\u201d said Bristow.<\/p>\n

Reflecting on Twiga\u2019s 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.<\/p>\n

\u201cTwiga is more than a company. It is a model for what mining can be when it\u2019s done right, in partnership and with purpose,\u201d he said.<\/p>\n

\n Barrick Enquiries
<\/strong>
\n Tanzania country manager
<\/em>Melkiory Ngido
+255 686 945 222<\/p>\n

\n Group investor and media relations<\/em>
\n
Kathy du Plessis
+44 20 7557 7738
barrick@dpapr.com<\/p>\n

\n CAUTIONARY STATEMENT ON FORWARD LOOKING INFORMATION<\/strong>
\n
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future financial or operating performance, constitutes \u201cforward-looking statements\u201d. All statements, other than statements of historical fact, are forward-looking statements. The words \u201con track\u201d, \u201ccontinue\u201d, \u201cprogress\u201d, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick\u2019s partnership with the Government of Tanzania; our ability to convert resources into reserves and replace reserves net of depletion from production; Barrick\u2019s global exploration strategy and planned exploration activities, including greenfields and brownfields opportunities in Tanzania; and Barrick\u2019s sustainability initiatives in Tanzania, including local community relations, continued investments in community projects, training and skills development and economic contributions.<\/p>\n

Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management\u2019s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in national and local government legislation, taxation, controls or regulations and\/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Tanzania and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; changes in mineral production performance, exploitation, and exploration successes; the possibility that future exploration results will not be consistent with the Company\u2019s expectations; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining inputs due to the invasion of Ukraine by Russia and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of Barrick\u2019s targeted investments and projects will meet the Company\u2019s capital allocation objectives and internal hurdle rate; damage to the Company\u2019s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company\u2019s handling of environmental matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical and transition risks related to climate change, including extreme weather events, resource shortages, emerging policies and increased regulations relating to related to greenhouse gas emission levels, energy efficiency and reporting of risks; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).<\/p>\n

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F\/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick\u2019s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.<\/p>\n

Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

All amounts expressed in US dollars BULYANHULU, Tanzania, July 07, 2025 (GLOBE NEWSWIRE) — Five years after its formation, the Twiga partnership between Barrick Mining Corporation (NYSE:B)(TSX:ABX) and the government of Tanzania continues to redefine the role of mining in national development, delivering shared value, operational excellence and long-term investment in the country\u2019s future. Speaking at a media briefing here today, Barrick president and chief executive Mark Bristow said the partnership had created a sustainable model for mineral development in Tanzania. \u201cWhen we established Twiga, it was about more than just resolving legacy issues. It was about building a new future by unlocking Tanzania\u2019s gold endowment in a way that fairly shares the benefits and builds lasting value for all … <\/p>\n

Continue reading “Five Years On, Barrick\u2019s Twiga Partnership Delivers Growth and Shared Value for Tanzania”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-866848","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nFive Years On, Barrick\u2019s Twiga Partnership Delivers Growth and Shared Value for Tanzania - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five Years On, Barrick\u2019s Twiga Partnership Delivers Growth and Shared Value for Tanzania - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"All amounts expressed in US dollars BULYANHULU, Tanzania, July 07, 2025 (GLOBE NEWSWIRE) — Five years after its formation, the Twiga partnership between Barrick Mining Corporation (NYSE:B)(TSX:ABX) and the government of Tanzania continues to redefine the role of mining in national development, delivering shared value, operational excellence and long-term investment in the country\u2019s future. 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Speaking at a media briefing here today, Barrick president and chief executive Mark Bristow said the partnership had created a sustainable model for mineral development in Tanzania. \u201cWhen we established Twiga, it was about more than just resolving legacy issues. It was about building a new future by unlocking Tanzania\u2019s gold endowment in a way that fairly shares the benefits and builds lasting value for all … Continue reading \"Five Years On, Barrick\u2019s Twiga Partnership Delivers Growth and Shared Value for Tanzania\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/","og_site_name":"Market Newsdesk","article_published_time":"2025-07-07T12:38:34+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQ5MDA5MCM3MDM0OTQwIzIwMDM5MTQ=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Five Years On, Barrick\u2019s Twiga Partnership Delivers Growth and Shared Value for Tanzania","datePublished":"2025-07-07T12:38:34+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/"},"wordCount":1436,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQ5MDA5MCM3MDM0OTQwIzIwMDM5MTQ=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/five-years-on-barricks-twiga-partnership-delivers-growth-and-shared-value-for-tanzania\/","name":"Five Years On, Barrick\u2019s Twiga Partnership Delivers Growth and Shared Value for Tanzania - 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