Barrick Gold Corporation has pledged cooperation with the sixth-phase government in the mining sector for collective benefits. This is according to the company’s President and Chief Executive Mark Bristow, who informed President Samia Suluhu Hassan that Barrick was ready to invest in other sectors in Tanzania.
Bristow paid a courtesy call to President Samia on 7th July 2021 at the Chamwino State House in Dodoma. They had discussions on issues of performance of the Canadian company and a business partner, Twiga Minerals Corporation Limited.
The CEO enlightened the president how his company was doing, especially in the implementation of the agreement it signed with the Tanzanian government. The pact was to ensure that both parties enjoy the returns from mineral resources. He said Barrick Gold Corporation has created employment for many Tanzanians, with some holding top ranks including head of finance, executive director and resident manager.
“Currently my company has enhanced cooperation with Tanzanians in provision of various services at the mine whereby an estimated 70 per cent of procurements are from Tanzania,” he said.
President Samia, in response to Mr. Bristow, assured him of continued cooperation with the Barrick Gold Corporation. She said that her government will bring to action all that they have settled on, with the aim of guaranteeing mutual benefit from mineral resources.
Early 2020, Tanzania and Barrick entered business by signing contracts. This was the beginning of a new chapter in the country’s mining sector as the government was granted ownership of 16 per cent of undiluted shares in the newly integrated Twiga Minerals Corporation.
The deals between the government and the Canadian company were an avenue to put an end to a tax dispute between the two parties and encourage issuance of future mining licenses. Barrick is the second-largest gold mining company in the world with 16 operating sites in 13 countries.