The Twiga Minerals joint venture between Barrick Mining (TSX: ABX) (NYSE: GOLD) and the Tanzanian government has reached its fifth anniversary, marking a period of economic and infrastructure contributions to the country, the miner said .
“When we established Twiga, it was about more than just resolving legacy issues,” President and CEO Mark Bristow said on Monday. “It was about building a new future by unlocking Tanzania’s gold endowment in a way that fairly shares the benefits and builds lasting value for all stakeholders.”
Formed in 2019 as part of a deal to settle a protracted tax dispute, Twiga has since injected $4.79 billion into Tanzania’s economy, including $558 million in the first half of this year. Barrick oversees its Tanzanian operations through Twiga, which in turn manages the Bulyanhulu, North Mara and Buzwagi mines.
Bristow said the partnership offers a sustainable…
