Barrick Gold Commits $30 Million for Development Projects in Tanzania

SEATTLE (Scrap Monster): Barrick Gold pledged to invest $30 million, in partnership with the Government of Tanzania, to expand the education infrastructure in the country. The announcement to this effect was made after a meeting between Mark Bristow, CEO, Barrick Gold and Samia Suluhu Hassan, President of Tanzania.

The partnership program is titled “Barrick-Twiga Future Forward Education Program”. It aims to build a total of 1,090 classrooms, 1,640 ablution blocks and 270 dormitories in 161 schools spread across the country. This will help in accommodating nearly 49,000 of the estimated 190,000 students who are expected to start their post-secondary education in July this year.

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The initial instalment of $10 million will be paid in April, with the balance scheduled to be paid as the program rolls out.

The company press release noted that North Mara has spent $1.9 million on 87 primary and secondary schools in the Tarime District. Also, Bulyanhulu has spent $1.8 million on 80 educational projects around the mine. Barrick has helped around 8,000 Tanzanian girls to gain access to education during the previous year.

Bristow noted that the ongoing investments in education sector is based on its belief that education is key to the development of any country.