Barrick Gold Corporation is the biggest gold mining company worldwide. It has a big role in Tanzania’s mining world. The company runs mines like North Mara, Bulyanhulu, and Buzwagi.
These mines help make Tanzania the fourth-biggest gold maker in Africa. Barrick started in Tanzania in the late 1990s. It has grown by buying more mines and starting new projects.
Key Takeaways
- Barrick Gold is the largest pure gold mining company globally, with significant operations in Tanzania.
- Tanzania is the fourth-largest gold producer in Africa, with Barrick’s mines contributing significantly to the country’s gold output.
- Barrick’s presence in Tanzania dates back to the late 1990s and has expanded through acquisitions and development projects.
- The company’s key mining assets in Tanzania include the North Mara, Bulyanhulu, and Buzwagi mines.
- Barrick’s operations in Tanzania have been a significant contributor to the country’s economy, with the mines’ contribution exceeding $3.4 billion since the company’s takeover in 2019.
Historical Development of Barrick’s Presence in Tanzania
Barrick Gold came to Tanzania in the late 1990s. They bought Sutton Resources in 1999. This was the start of their big role in Tanzania’s mining.
In 2006, Barrick got bigger with the Placer Dome buy. This added the North Mara gold mine to their list. Over time, Barrick has grown and changed with the market and rules.
Key Acquisitions and Expansions
In 2019, Barrick bought Acacia Mining. This brought Bulyanhulu and North Mara mines under their control. It was a big step for Barrick in Tanzania.
Evolution of Mining Operations
Barrick has helped Tanzania’s mining grow. They’ve invested a lot and helped the local economy. Barrick is now a big part of Tanzania’s economy.
“Barrick’s acquisition of Acacia Mining in 2019 marked a significant milestone in the company’s Tanzanian operations, solidifying its position as a dominant player in the country’s mining industry.”
Barrick Gold in Tanzania: Current Mining Portfolio
Barrick Gold is big in Tanzania. It mines at North Mara, Bulyanhulu, and Buzwagi. By December 31, 2008, these mines had a lot of gold.
Bulyanhulu had 12.0 million ounces. North Mara had 3.0 million ounces. Buzwagi had 3.3 million ounces.
These mines are in Barrick’s Africa region. They have 18.4 million ounces of gold. Barrick uses new mining methods here.
| Mine | Proven and Probable Gold Reserves (as of December 31, 2008) |
|---|---|
| Bulyanhulu | 12.0 million ounces |
| North Mara | 3.0 million ounces |
| Buzwagi | 3.3 million ounces |
But, Barrick’s mines in Tanzania have faced problems. North Mara has seen a lot of violence. Since 2006, there have been 77 deaths and 304 injuries.
North Mara is known as one of Africa’s most dangerous mines. Yet, gold from North Mara is seen as “responsibly sourced” by the London Bullion Market Association (LBMA). This means big companies like Apple and Microsoft can use it.
“The London Bullion Market Association (LBMA) has certified gold mined from North Mara as ‘responsibly sourced’ since 2014, enabling its entry into supply chains of major companies such as Apple, Microsoft, Amazon, Alphabet, and Tesla.”
Barrick says it has made things better since 2019. But, reports say violence still happens. This goes against what Barrick says.
Production Capacity and Economic Impact
Barrick Gold’s work in Tanzania has helped a lot. In 2008, its mines in Tanzania made a lot of gold. This shows how good Barrick is at making gold.
Gold Production Statistics
Bulyanhulu mine made 200,000 ounces of gold in 2008. North Mara mine made 197,000 ounces. Buzwagi mine was set to make 200,000 ounces in 2009. These numbers show Barrick’s skill in making gold.
Economic Contribution to Tanzania
Barrick’s work in Tanzania has helped the country a lot. It has helped Tanzania’s economy grow. It also gives jobs and helps local communities.
Market Share and Industry Position
In 2008, Barrick had about 41% of the market in Tanzania. This made it a big player in Tanzania’s gold mining. Tanzania is now a big name in African gold mining because of Barrick.
“Barrick’s operations in Tanzania have been a driving force in the country’s gold mining industry, showcasing the company’s ability to extract and process significant quantities of gold while contributing to the overall economic development of the region.”
Environmental and Community Relations
Barrick Gold in Tanzania has big challenges. They face issues with protecting the environment and working with the community. The North Mara mine has had many problems, like violence and human rights issues.
At least 77 people have died and 304 have been hurt since 2006. Barrick has tried to fix these problems.
But, some people still worry if Barrick is doing enough. Human rights and mining groups keep asking questions. They want to know if Barrick follows global rules and listens to the community.
It’s hard for Barrick to make mining good for everyone. They need to find a way to make money without hurting the environment or people.
| Metric | Value |
|---|---|
| Reported Deaths at North Mara Mine | 77 |
| Reported Injuries at North Mara Mine | 304 |
“Barrick is committed to responsible mining and sustainable development in the areas where we operate. We continue to work closely with local communities and authorities to address concerns and improve our performance.”
– Barrick Gold spokesperson
Conclusion
Barrick Gold in Tanzania has grown a lot over time. It started small and now mines a lot of gold. This has helped Tanzania’s economy grow.
But, Barrick has faced problems like bad community relations and human rights issues. Despite these, Barrick is working hard to fix these problems.
The company has started new programs to help local communities. It has also reduced security at one mine and launched a new education program. These steps show Barrick wants to be a good neighbor.
Barrick plans to keep growing in Tanzania. It wants to create a special economic zone and invest in the country’s future. Barrick is a big part of Tanzania’s economy, so its success is very important.