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Barrick Gold’s Tanzanian legacy

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Barrick Gold’s Tanzanian legacy Part of Barrick Gold’s Tanzanian legacy will be a new airport terminal built at the closed Buzwagi gold mine
Barrick president and chief executive Mark Bristow

Barrick Gold’s Tanzanian legacy

Part of Barrick Gold’s Tanzanian legacy will be a new airport terminal built at the closed Buzwagi gold mine’s Kahama airstrip to the Tanzania Airport Authority (TAA).

The role of a sustainable mining company is not only to create value for stakeholders today but to ensure it leaves behind a positive legacy that will continue to serve local communities long after mining is complete.

This is according to Barrick president and chief executive Mark Bristow who was speaking today at the official handover ceremony of the new airport terminal built at the closed Buzwagi gold mine’s Kahama airstrip to the Tanzania Airport Authority (TAA).

Eight-month partnership

The ceremony marks the conclusion of an eight-month partnership between Barrick and TAA at a total cost of $384,000 – shared 70% ($268,000) by Barrick and 30% ($116,000) by TAA – and will pave the way for a scheduled airline service in and out of Kahama.

The new terminal will serve more than 200 passengers at a time, compared to only 25 passengers previously, and is expected to be a catalyst for economic growth in the region.  The building includes an arrival and departure terminal, VIP lounge and meeting room, coffee and gift shop, as well as amenities for people with disabilities.

An economic powerhouse

The Buzwagi gold mine was an economic powerhouse for Tanzania’s Shinyanga region for nearly 15 years.  At its peak, Buzwagi was the second largest operating mine in Tanzania and employed more than 3,000 people.  Its operational life came to an end in July 2021 and the mine was officially closed in July 2022.

Since then, Barrick has been attending to Buzwagi’s environmental rehabilitation while also advancing its plans to transform the closed mine into a Special Economic Zone.

A feasibility study commissioned in 2021 showed that the creation of the Special Economic Zone had the potential to replace the mine as the region’s economic driver and could sustainably create 3,000 jobs annually, generate more than $150,000 each year from service levies for the local municipality and deliver approximately $4.5 million in employment taxes a year.

Barrick Gold’s Tanzanian legacy

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Barrick Gold’s Tanzanian legacy

 

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AgricultureEnvironmental Management & Climate ChangeEnergyESGInfrastructureMiningPolitical EconomyTourism and ConservationWater Management