Barrick Gold’s two gold mines in Tanzania, North Mara and Bulyanhulu, boosted their combined output to 547,000 ounces in 2022, achieving another step towards their potential Tier One2 status in the group’s asset portfolio as a combined complex. At the same time, exploration is continuing to deliver opportunities to grow the mineral reserves net of depletion at both mines. North Mara’s transition to owner-mining is successfully ramping up its ongoing open pit expansion with improved efficiencies and costs, while technological advances in the underground operation are increasing productivity. The restart of mining at the Gena pit is on track. At Bulyanhulu the main focus is on ramping up the development of its declines to access the new Deep West mineral reserves and defining further exploration potential in Reef 2. Since the take-over in 2019, Barrick has pumped USD 2.4 billion into the Tanzanian economy. Last year it paid USD 303 million in taxes, royalties, levies, dividends and shareholder loan repayments and USD 476 million to local suppliers. As the mines have grown they have continued to prioritize local employment. Their workforce is already 96% Tanzanian, with 45% of new hires drawn from the surrounding communities. Through their community development committees, the mines have invested more than $10 million in projects to improve healthcare, education, access to potable water and the road infrastructure.
Barrick Gold’s two gold mines in Tanzania, North Mara and Bulyanhulu, boosted their combined output to 547,000 ounces in 2022, achieving another step towards their potential Tier One2 status in the group’s asset portfolio as a combined complex. At the same time, exploration is continuing to deliver opportunities to grow the mineral reserves net of depletion at both mines. North Mara’s transition to owner-mining is successfully ramping up its ongoing open pit expansion with improved efficiencies and costs, while technological advances in the underground operation are increasing productivity. The restart of mining at the Gena pit is on track. At Bulyanhulu the main focus is on ramping up the development of its declines to access the new Deep West mineral reserves and defining further exploration potential in Reef 2. Since the take-over in 2019, Barrick has pumped USD 2.4 billion into the Tanzanian economy. Last year it paid USD 303 million in taxes, royalties, levies, dividends and shareholder loan repayments and USD 476 million to local suppliers. As the mines have grown they have continued to prioritize local employment. Their workforce is already 96% Tanzanian, with 45% of new hires drawn from the surrounding communities. Through their community development committees, the mines have invested more than $10 million in projects to improve healthcare, education, access to potable water and the road infrastructure.
