By Hannah Bernard | MiningIR
Barrick Mining Corporation has secured a 15-year renewal of the Special Mining Licences covering its North Mara Gold Mine in Tanzania, extending the operating framework for one of the country’s most significant gold operations. The renewal gives Barrick greater long-term certainty to continue investing in the mine, its workforce and surrounding communities, while reinforcing the company’s partnership with the Government of Tanzania.
“This is an important milestone for North Mara and for our partnership with Tanzania,” said Seb Bock, Chief Executive Officer of Barrick’s Rest of World business. “Since 2019, we’ve worked with the Government of Tanzania and local communities to build a stronger partnership and to create more opportunities for all Tanzanians. At the core of our business is building partnerships of real depth and trust with all stakeholders, and this renewal reflects that commitment.”
North Mara Gold Mine Secures 15-Year Licence Renewal
North Mara is located in the Tarime district of the Mara region in northwestern Tanzania, roughly 100 kilometres east of Lake Victoria and 20 kilometres south of the Kenyan border. Commercial production began in 2002. Today, the operation combines open-pit and underground mining, with ore sourced from the Nyabirama open pit and the Gokona underground deposit. Its processing plant has capacity to handle an average of approximately 8,000 tonnes of ore per day.
The licence renewal comes seven years after Barrick assumed operational control of North Mara and the Bulyanhulu mine in 2019. Since then, the company says its Tanzanian operations have generated approximately US$5.3 billion for the national economy through taxes, royalties, salaries, dividends and local procurement. About US$1.2 billion of that contribution came in 2025 alone.
Advertisement
Barrick’s Tanzania Operations Deliver Billions in Economic Contributions
Local participation has become a central component of Barrick’s operating model in Tanzania. Tanzanian nationals now account for 96% of the approximately 3,000-person workforce cited in the release, with 47% drawn from communities near the mines. More than 90% of procurement is sourced from Tanzanian-registered companies, according to Barrick, with indigenous businesses representing the majority of those suppliers.
In 2025, Barrick was also recognized by the Tanzanian government as a top dividend payer and one of the country’s highest contributors to government revenue.
Local Employment and Procurement Remain Central to North Mara
The North Mara and Bulyanhulu mines are operated through Twiga Minerals, the partnership created by Barrick and the Tanzanian government in 2019. Tanzania holds a 16% interest in each mine, while the economic benefits generated by the operations are shared equally between the partners. Community Development Committees also provide local stakeholders with a role in prioritizing investments in infrastructure and social programs, including schools, clinics and roads.
The extension provides a longer planning horizon for capital investment, mine development and exploration while maintaining the government’s direct participation in the economic benefits of the operation.
More than 90% of procurement is sourced from Tanzanian-registered companies, according to Barrick, with indigenous businesses representing the majority of those suppliers.
Advertisement
The local procurement strategy helps extend the economic impact of mining beyond direct employment and government revenue.
Twiga Minerals Partnership Supports Barrick’s Tanzania Strategy
The North Mara and Bulyanhulu mines are operated through Twiga Minerals, the partnership established between Barrick and the Government of Tanzania in 2019.
Tanzania holds a 16% interest in each mine, while the economic benefits generated by the operations are shared equally between the partners.
Community Development Committees also give local stakeholders a role in determining priorities for investment in infrastructure and social programs, including schools, clinics and roads.
Seb Bock, chief executive officer of Barrick’s Rest of World business, described the renewal as “an important milestone for North Mara and for our partnership with Tanzania.”
Advertisement
North Mara Gold Reserves Support Long-Term Mine Planning
For investors, the 15-year renewal removes an important element of permitting uncertainty surrounding one of Barrick’s long-life African gold assets.
Barrick reported that North Mara contained approximately 3.2 million ounces of proven and probable gold reserves attributable to the company at the end of 2025.
The extended licences give Barrick additional visibility when evaluating future capital programs, underground development and exploration aimed at replacing and potentially expanding reserves.
Barrick Looks to Extend North Mara Mine Life
With the renewed licences now in place, attention will shift toward maintaining production, advancing mine development and continuing exploration across the broader North Mara mineral system.
The licence extension also reinforces Tanzania’s continuing importance within Barrick’s global portfolio and demonstrates the longer-term structure of the partnership established between the company and the Tanzanian government.
Advertisement
Barrick Mining Corporation trades on the Toronto Stock Exchange under ABX and on the New York Stock Exchange under B.
