Barrick's Twiga Partnership Drives Sustainable Value Creation in Tanzania's Economy

Economic Contribution - Barrick Gold Corporation has injected over $4.24 billion into the Tanzanian economy since 2019, with$ 888 million contributed in 2024 alone through the Twiga joint venture [1] - The company spent $573 million on national suppliers and service providers in 2024, representing 83% of total in-country spend, with 75% of payments going to indigenous companies, exceeding the 61% target [3] Employment and Community Development - 96% of Barrick's 6,185-strong workforce in Tanzania are nationals, with 53% coming from communities neighboring the mines [4] - The company invested over$ 5 million in 2024 in potable water, healthcare, and education, bringing total investment in community projects to $15.8 million since 2019 [4] Production and Safety - Bulyanhulu and North Mara mines exceeded 500,000 ounces of gold production in 2024, maintaining Tier One status, and achieved a full year without a Lost-Time Injury [5] Environmental and Infrastructure Development - Buzwagi mine made significant progress in closure implementation and environmental management, focusing on water management and vegetation maintenance [6] - A Special Economic Zone (SEZ) is in advanced stages of development, attracting investor interest, with one investor already obtaining Export Processing Zone registration [6] Talent Development - The Barrick Academy, opened in 2024, has trained 1,700 individuals and is on track to exceed its target of training over 2,800 people by the end of 2025 [7] Exploration and Reserves - Conversion drilling at North Mara and Bulyanhulu mines has replenished reserves, and Barrick continues to consolidate a highly prospective footprint in the Nzega District, adding over 2,000km² of new areas [8] Industry Recognition - Twiga received numerous accolades in 2024, including recognition for safety, top employer, environmental performance, and community engagement [9] - North Mara was recognized as the largest economic contributor in Tanzania's extractive industry and received several awards for occupational health and safety, corporate social responsibility, and local content compliance [9] Strategic Vision - Barrick's work in Tanzania is a model for sustainable mining that balances economic, environmental, and social responsibility [10] - The company's long-term strategy includes identifying Tier One systems in the region, with a focus on organic reserve growth and long-term geological additions [8][11]