Barrick Gold has reached a significant milestone in East Africa as the Tanzanian government officially renewed the special mining licenses for the North Mara gold mine. This extension guarantees the company’s right to operate at the site for another fifteen years, stretching their presence there until 2041. The mine is managed via Twiga Minerals, a joint venture formed in 2019 that ensures a fair distribution of wealth, granting the government a sixteen percent free carried interest and an even split of economic gains.
Seb Bock, who leads Barricks Rest of World division, described the renewal as a testament to the deep trust and partnership built between the company, the state, and local residents over the last few years. According to Barrick, this collaborative approach has yielded substantial results for the national economy, with roughly 5.3 billion dollars invested since they took control five years ago. In 2025 alone, contributions totaling 1.2 billion dollars were made through royalities, taxes, and salaries, earning the firm recognition as the country’s top revenue contributor.
Beyond the financial figures, the North Mara operation has focused heavily on localization. Currently, ninety six percent of the workforce consists of Tanzanian nationals, many of whom live in the villages immediately surrounding the mine. This commitment to domestic growth extends to supply chains as well, with over ninety percent of procurement needs being met by indigenous companies registered within Tanzania.
While celebrating success in East Africa, Barrick has also been managing volatility elsewhere on its continent wide portfolio. The company recently averted a potential crisis in Mali by signing a new collective bargaining agreement with unions at its Loulo Gounkoto mine. This deal resolves long standing disputes over overtime pay and expenses that had previously threatened to trigger widespread strikes across several sites during a period of political transition and regulatory change in Mali.