Barrick Gold Mining Company Contributes TZS 3.6 trillion to Government Revenue in Tanzania
Barrick Gold Mining Company has contributed a total of TZS 3.6 trillion to the Tanzanian government in revenue through taxes, royalties, and various levies over the four-year period from 2020 to 2024.
This was revealed in Dodoma by Barrick's Country Manager, Dr. Melkiory Ngido, before the Parliamentary Standing Committee on Energy and Minerals while presenting the progress of Twiga Minerals, a joint venture between Barrick Gold and the Government of Tanzania.
Dr. Ngido stated that, according to statistics from 2020 to 2024, Barrick has invested over USD 4.24 billion (TZS 11 trillion) in its operations within the country, with USD 1.5 billion (TZS 3.6 trillion) paid to the government in taxes, royalties, and other levies.
He explained that since Barrick took over the management of its operations in Tanzania in 2019, the company has remained a significant contributor to the economy through investment, employment, and community projects.
Regarding economic contributions, Dr. Ngido highlighted that USD 158 million (TZS 412.4 billion), equivalent to 4%, has been paid as government dividends from the joint venture.
Additionally, he stated that USD 2.3 billion (TZS 6.04 trillion), accounting for 55% of total expenditures, has been directed to local suppliers, while 32% of the investment, amounting to USD 1.37 billion (TZS 3.57 trillion), has been paid as taxes, royalties, and levies to the government.
He further added that USD 397 million (TZS 1.03 trillion), or 9%, has been spent on employee salaries, USD 30 million (TZS 78.3 billion) on mineral exploration, and USD 15.6 million (TZS 40.7 billion) has been allocated to community projects.
On employment, Dr. Ngido emphasized that Barrick is committed to providing jobs to Tanzanians, with 96% of its workforce being local employees. Currently, the company employs 6,185 workers, of whom 5,933 are Tanzanians, while expatriates account for only 4%. Additionally, 53% of the workforce comes from communities surrounding the mines.
He added that 100% of senior management positions are held by Tanzanians, while women represent 13% of the workforce. Barrick continues to enhance its contribution to Tanzania by investing more in the mining sector, empowering local entrepreneurs, and improving the livelihoods of communities surrounding its mines.
It is noteworthy that the 14th Report of the Extractive Industries Transparency Initiative (TEITI), published in June 2024, confirmed that Barrick Tanzania contributed 51% of all government revenue generated from the extractive sector, making it the largest single contributor to the economy.
For his part, the Chairman of the Parliamentary Standing Committee on Energy and Minerals, Dr. Mathayo David, commended the company for its efforts and urged Tanzanian employees in the company to work efficiently to maintain the company’s confidence and uphold the nation’s reputation.
Speaking on behalf of the Minister of Minerals, the Assistant Commissioner for Mineral Development and Mines at the Ministry of Minerals, Engineer Ally Samaje, stated that the government is proud of the success of the Twiga Minerals joint venture. He further noted that discussions to establish additional joint venture companies between the government and other investors are progressing well.
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