Barrick Gold, one of the largest gold mining companies in the world, has a significant presence across several African countries, where it operates some of the continent’s most productive gold mines. The company expanded its footprint in Africa through strategic acquisitions, including the 2019 acquisition of Acacia Mining, which gave it control of key operations in Tanzania, Kenya, and South Africa.
1. Key African Operations of Barrick Gold
Barrick Gold operates in multiple African countries, with major mines and exploration projects in:
Tanzania – The Largest African Hub
Tanzania is Barrick’s largest gold-producing region in Africa, following the acquisition of Acacia Mining. The company operates:
- North Mara Mine – A high-grade gold operation in northern Tanzania.
- Buzwagi Mine – An open-pit mine that transitioned to underground mining for deeper reserves.
- Golden Pride Mine (previously operated) – A former joint venture that contributed to early production.
In 2022, Barrick reached a new agreement with the Tanzanian government, resolving past disputes and paving the way for continued exploration and investment.
Democratic Republic of Congo (DRC) – Joint Ventures
Barrick has a joint venture interest in the Kibali Gold Mine in the DRC, operated by Randgold Resources (a Barrick subsidiary).
- Kibali is one of the most productive gold mines in Africa, producing over 800,000 ounces annually.
- Barrick holds a 45% stake, with AngloGold Ashanti (45%) and the DRC government (10%).
This operation is part of Barrick’s broader East African strategy.
South Africa – Exploration and Joint Ventures
Although Barrick does not operate major gold mines directly in South Africa, it has exploration interests and joint ventures in the region, including:
- A 50-50 joint venture with Gold Fields for the South Deep Gold Mine, one of the largest known gold reserves globally.
- Ongoing exploration projects in underdeveloped zones near the Witwatersrand Basin, which holds over 40% of all gold ever mined.
South Africa remains a strategic region for future growth.
Kenya – Exploration and Potential Development
Barrick also has exploration licenses in Kenya, focusing on the Kuria Gold Belt along the Tanzania-Kenya border.
- This region shows potential for new gold discoveries.
- The company is conducting feasibility studies to assess future mining opportunities.
2. Barrick’s Strategy in Africa
Barrick Gold follows a strategic approach to its African operations, focusing on:
- Stable jurisdictions with clear regulatory frameworks.
- High-grade gold deposits with long mine lives.
- Partnerships with local governments and communities to ensure sustainable development.
- Technology and sustainability initiatives to improve efficiency and reduce environmental impact.
The company emphasizes responsible mining, community development, and tax transparency as part of its operations in Africa.
3. Government Relations and Legal Framework
Barrick’s African operations are subject to national laws and agreements, particularly in Tanzania, where it previously faced regulatory and tax disputes.
- In 2017–2019, Tanzania imposed export restrictions and penalties on Acacia Mining (now part of Barrick).
- A 2022 agreement resolved these issues, allowing Barrick to continue operations under new terms.
- The company now works closely with local authorities to ensure compliance and transparency.
Frequently Asked Questions (FAQs)
Q: Does Barrick Gold operate in Africa?
A: Yes, Barrick Gold operates in Tanzania, has joint ventures in the Democratic Republic of Congo, and exploration interests in South Africa and Kenya.
Q: What mines does Barrick Gold own in Africa?
A: Major African assets include the North Mara and Buzwagi Mines in Tanzania, and a 45% stake in the Kibali Mine in the DRC.
Q: Is Barrick still active in Tanzania?
A: Yes, Barrick resumed full operations in Tanzania after a 2022 agreement with the government, allowing for continued mining and exploration.
Conclusion
Barrick Gold plays a major role in Africa’s gold industry, with active operations in Tanzania, joint ventures in the DRC, and exploration activities in South Africa and Kenya. Despite past regulatory challenges, the company remains committed to long-term investment and responsible mining across the continent.
