Barrick Gold Announced Resurrection of Tanzania Gold Mines

SEATTLE (Scrap Monster): Barrick Gold announced revival of its gold mines in Tanzania. The North Mara gold mine reported significant improvements, whereas the Bulyanhulu gold mines announced restart of underground production. Both the above mines achieved production at the top end of the guidance. The above two mines, combined with Buzwagi mine lifted the company’s total output from Tanzanian operations to 462,472 ounces.

According to company press release, the North Mara mine posted record throughput during the last quarter of 2020. The Bulyanhulu mine, which resumed processing of underground ore during the quarter, is expected to complete its ramp-up and reach full production during the initial half of the current year. In addition, the mine also achieved ISO 14001 certification for the first time. Both the above mines came under the control of the company, following the re-acquisition of Acacia Mining in September 2019.

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Commenting on the development, Mark Bristow, CEO, Barrick noted that the company is on track in the implementation of comprehensive water management plan at North Mara. Also, it has been successful in refurbishing both shaft and plant at Bulyanhulu and going ahead with a new mine plan. The plan aims to transform the combined mines its seventh tier-one asset, by significantly reducing cost of operation, he added.