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Barrick Mining Secures 15-Year Renewal for Tanzania's North Mara Mine
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Key Takeaways
B renewed North Mara's Special Mining Licenses for 15 years, supporting continued investment in Tanzania.
Barrick has contributed $5.3 billion to Tanzania's economy since 2019, including $1.2 billion in 2025.
Tanzanian nationals make up 96% of Barrick's roughly 3,000 employees in the country.
Barrick Mining Corporation (B - Free Report) announced that the Government of Tanzania has renewed the Special Mining Licenses for its North Mara Gold Mine for another 15 years, supporting continued investment in the mine, its workforce and surrounding communities.
North Mara Strengthens Local Economic Impact
Since Barrick took over operations in 2019, North Mara has increased local employment and expanded economic benefits for nearby communities. Tanzanian nationals now account for 96% of Barrick's approximately 3,000 employees in the country, with 47% coming from communities surrounding its mines.
Barrick has contributed approximately $5.3 billion to Tanzania's economy since 2019, including $1.2 billion in 2025 through taxes, royalties, salaries, dividends and local procurement. More than 90% of procurement is sourced from Tanzanian-registered companies, with the majority being indigenous businesses.
In 2025, Barrick received several awards from the Tanzanian Government, including recognition as the top dividend payer and highest contributor to government revenues.
The renewal also reinforces the partnership between Barrick and the Tanzanian Government. The two established Twiga Minerals in 2019 to jointly operate the North Mara and Bulyanhulu mines. The Government holds a 16% interest in each mine, while the two partners share the economic benefits equally.
Per Barrick Mining, the license renewal marks an important milestone for North Mara and the company's partnership with Tanzania, while reinforcing its commitment to building long-term relationships with government, communities and other stakeholders.
Price Performance of B
Shares of B have risen 20.4% over the past year compared with the industry’s 13.4% growth.
The Zacks Consensus Estimate for TX’s current-year earnings stands at $6.54 per share, implying a 201.4% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the negative average surprise being 11.1%.
The Zacks Consensus Estimate for AVNT’s current-year earnings is pegged at $3.2 per share, indicating a 13.5% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in all of the trailing four quarters, with the average surprise being 3.4%.
The Zacks Consensus Estimate for APD’s current fiscal-year earnings is pegged at $13.46 per share, indicating a 11.9% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, with the average surprise being 2.9%.
View the Zacks #1 Rank List
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Barrick Mining Secures 15-Year Renewal for Tanzania's North Mara Mine
Key Takeaways
Barrick Mining Corporation (B - Free Report) announced that the Government of Tanzania has renewed the Special Mining Licenses for its North Mara Gold Mine for another 15 years, supporting continued investment in the mine, its workforce and surrounding communities.
North Mara Strengthens Local Economic Impact
Since Barrick took over operations in 2019, North Mara has increased local employment and expanded economic benefits for nearby communities. Tanzanian nationals now account for 96% of Barrick's approximately 3,000 employees in the country, with 47% coming from communities surrounding its mines.
Barrick has contributed approximately $5.3 billion to Tanzania's economy since 2019, including $1.2 billion in 2025 through taxes, royalties, salaries, dividends and local procurement. More than 90% of procurement is sourced from Tanzanian-registered companies, with the majority being indigenous businesses.
In 2025, Barrick received several awards from the Tanzanian Government, including recognition as the top dividend payer and highest contributor to government revenues.
The renewal also reinforces the partnership between Barrick and the Tanzanian Government. The two established Twiga Minerals in 2019 to jointly operate the North Mara and Bulyanhulu mines. The Government holds a 16% interest in each mine, while the two partners share the economic benefits equally.
Per Barrick Mining, the license renewal marks an important milestone for North Mara and the company's partnership with Tanzania, while reinforcing its commitment to building long-term relationships with government, communities and other stakeholders.
Price Performance of B
Shares of B have risen 20.4% over the past year compared with the industry’s 13.4% growth.
B’s Zacks Rank & Key Picks
B carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Ternium S.A. (TX - Free Report) , Avient Corporation (AVNT - Free Report) and Air Products and Chemicals, Inc. (APD - Free Report) . TX currently sports a Zacks Rank #1 (Strong Buy), while AVNT and APD carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TX’s current-year earnings stands at $6.54 per share, implying a 201.4% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the negative average surprise being 11.1%.
The Zacks Consensus Estimate for AVNT’s current-year earnings is pegged at $3.2 per share, indicating a 13.5% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in all of the trailing four quarters, with the average surprise being 3.4%.
The Zacks Consensus Estimate for APD’s current fiscal-year earnings is pegged at $13.46 per share, indicating a 11.9% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, with the average surprise being 2.9%.