Barrick Gold Mining Company has made a substantial contribution to Tanzania's economy, providing 3.6 trillion shillings to the government over a four-year period from 2020 to 2024 through taxes, royalties, and various fees.
This contribution was highlighted on February 13, 2025, by the company's Resident Manager in Tanzania, Dr. Melkiory Ngido, during his presentation to the Parliamentary Standing Committee on Energy and Minerals.
Over this period, Barrick invested 4.24 billion dollars (equivalent to 11 trillion shillings) in its operations within the country, with 1.5 billion dollars (3.6 trillion shillings) paid directly to the government.
Since Barrick took over the management of its Tanzanian operations in 2019, it has become a key player in the country's economic landscape, driving growth through investments, job creation, and community development initiatives.
Dr. Ngido also shared that Barrick paid 158 million USD (412.4 billion shillings), representing 4% of its total revenue, as a dividend to the government from their partnership. Furthermore, 2.3 billion dollars (6.04 trillion shillings), or 55% of total spending, was allocated to local suppliers, with 1.37 billion dollars (3.57 trillion shillings), or 32%, paid in taxes, royalties, and fees to the government.
Barrick also invested 397 million USD (1.03 trillion shillings), or 9% of its revenue, into employee salaries, 30 million USD (78.3 billion shillings) in mining research, and 15.6 million USD (40.7 billion shillings) in various community projects.
Barrick has shown a strong commitment to supporting Tanzanian employment, with 96% of its workforce comprising Tanzanian nationals.
Currently, the company employs 6,185 individuals, of whom 5,933 are Tanzanians, and 53% of these employees come from local communities surrounding the mines.
Notably, all senior management positions are held by Tanzanians, with women representing 13% of the workforce.
Barrick's ongoing investments not only strengthen the mining sector but also uplift local entrepreneurs and improve the livelihoods of surrounding communities.
According to the 14th report from the Extractive Industries Transparency Initiative (TEITI), published in June 2024, Barrick was responsible for 51% of the total government revenue generated from the mining sector, cementing its role as the largest single contributor to the national economy.
The Tanzanian government has expressed its pride in the Barrick-Tanzania partnership and is currently in discussions to establish additional public-private partnerships with other investors.