Barrick Africa President and CEO, Mark Bristow said last week when presenting third quarter results of the mining giant which jointly owns Twiga Minerals with Treasury, that following their agreement with the government in 2019, extraction will be done locally with production of gold bars as main product and copper and other minerals as by-products.
“We are going to have very high rate of gold extraction with the new machines, over 90, percent gold bars while the copper will be sold to Zambia where there are smelters,” Bristow said while commending the government for being supporting since the 2019 deal was signed.
“I must say that we are very happy ad positive with the agreement and will invest more in Tanzania as you have just witnessed the commissioning of the first photon assay laboratory,” he said adding that the gold mining giant will also use local purifying plants to add value to the gold before shipment to markets.
He said since 2019, Barrick has invested over U$1.2 billion of which 48 percent has been payment of goods and services to local suppliers; 39 percent paid in taxes, royalty and other levies while 10 percent has been payment to staff salaries.
“We have a total of 4,133employees of which 4,021 are locals and 112 expatriates which means that 97 percent of our employees are Tanzanian of which 40 percent are hired from the community surrounding the mine,” the Barrick Africa chief who is also Twiga Minerals Corporation Board Chairman stated.
Deputy Minister for Minerals, Professor Shukuru Manya commended Barrick Africa’s management for adhering to the agreement signed with the state saying it’s good for both parties. “The issue of exporting copper concentrate has been resolved and we have opened a new chapter,” Prof Manya said while noting that Twiga which replaced Acacia Mining Plc has 16 percent state shares.
He commended Barrick for investing in the U$3.7 million photon assay laboratory saying it shows commitment by the company to continue investing in the country. “This new laboratory will also help enhance transparency in your operations,” Prof Manya who commissioned the laboratory added.
The Australian made laboratory has capacity to test 1,000 samples of half a kilogram mineral sand per day with a single sample analysis taking not more than two minutes. “This new laboratory delivers faster, safer and more accurate analysis of gold, silver and complementary elements by non destructive measurement of larger and more representative samples in as little as two minutes,” Bristow noted.