Tanzanian govt grants 15-year licence extension for Barrick’s North Mara mine

Dar es Salaam. The Tanzanian government has renewed the mining licence for Barrick Gold Corporation’s North Mara gold mine in Tarime District for a further 15 years, extending the life of one of the country’s major gold-producing assets.

The renewal secures the mine’s operations well into the 2040s and marks a significant development for an asset that was at the centre of a prolonged dispute between the government and Acacia Mining less than a decade ago.

The licence renewal also underscores the more stable operating relationship established between Barrick and the government through Twiga Minerals Corporation, the joint venture formed in October 2019.

Twiga was established as part of a settlement that brought an end to a long-running dispute between the government and Acacia, Barrick’s former London-listed subsidiary, over taxes, mineral exports and the regulation of the mining sector.

The dispute intensified in 2017 following sweeping changes to Tanzania’s natural resources laws.

Among other measures, the new legislation restricted the export of unprocessed mineral concentrates, provided for a 16 percent free-carried government interest in major mining projects and gave Parliament powers to review and renegotiate natural resource agreements deemed to contain unconscionable terms.

The government subsequently accused Acacia of under-reporting the value of mineral exports and tax evasion, resulting in a $190 billion tax assessment and a ban on the export of gold-copper concentrates.

The dispute severely affected Acacia’s operations and financial performance, while creating uncertainty over the future of its Tanzanian assets.

The impasse began to ease after Barrick merged with Randgold Resources in early 2019.

Barrick’s management entered direct negotiations with the Tanzanian government, eventually agreeing to acquire the minority interests in Acacia and assume direct control of its Tanzanian operations.

The subsequent framework agreement resulted in the creation of Twiga Minerals Corporation and a new ownership and governance structure for the North Mara and Bulyanhulu mines.

Under the arrangement, the government holds a 16 percent free-carried interest in each mine, while the parties have equal representation on the operating boards and share economic benefits on a 50/50 basis.

Barrick says it has contributed about $5.3 billion to Tanzania’s economy since assuming direct control of its operations under the Twiga framework in 2019.

In 2025 alone, the company contributed $1.2 billion through taxes, royalties, dividends, employee wages and procurement.

The government subsequently recognised Barrick as Tanzania’s largest dividend payer and biggest overall contributor to state revenue.

Local participation has also increased under the current operating framework. Tanzanian nationals account for 96 percent of North Mara’s workforce of about 3,000 employees, with 47 percent coming directly from communities surrounding the mine.

More than 90 percent of the mine’s procurement is also conducted through companies registered in Tanzania.

Seb Bock, chief executive officer of Barrick’s Rest of World business unit, described the licence renewal as a milestone for both North Mara and the company’s partnership with Tanzania.

“Since 2019, we have worked alongside the Tanzanian government and local communities to build a stronger partnership and unlock further opportunities for all Tanzanians,” he said.

“At the core of our business is building genuine, trusting partnerships with all stakeholders, and this partnership renewal reflects that commitment,” he added.

North Mara, together with the Bulyanhulu underground mine and the now-closed Buzwagi open-pit mine, has historically formed the core of Barrick’s operations in Tanzania.

The new licence comes as the government seeks to deepen the mining sector’s contribution to the wider economy, including through stronger participation by local businesses and financial institutions.

Meanwhile, Bank of Tanzania Governor Emmanuel Tutuba has separately urged local financial institutions to develop products and services tailored to the needs of mining companies and their suppliers.

Speaking at the Mining Technology Exhibition at the Dr Samia Suluhu Hassan grounds in Geita, Mr Tutuba said stronger commercial banking support for the mining industry was important in sustaining the sector’s contribution to broader economic growth.