Barrick’s North Mara Gold Mine has strengthened Tanzania’s position as one of Africa’s leading gold producers, following a strong third-quarter performance that exceeded production expectations and demonstrated the value of public–private partnerships in the mining industry.
The mine, located in Tarime District, Mara Region, is jointly operated by Barrick Gold Corporation and the Government of Tanzania through Twiga Minerals Corporation.
It surpassed its quarterly production target by 3 percent, helping drive an 8 percent overall increase in Barrick’s gold output across Africa.
According to the company’s third-quarter operational report for the period ending September 30, 2025, the North Mara Mine’s success was attributed to enhanced efficiency in both open-pit and underground operations, strategic cost management, and a commitment to operational excellence.
Barrick’s Chief Operating Officer and Acting President and CEO, Mark Hill, who presented the report in Canada, said the mine’s achievements reflect the strength of Tanzania’s collaboration with investors through Twiga Minerals.
“Tanzania continues to show how partnership between government and the private sector can deliver sustainable growth,” he said, noting that both North Mara and Bulyanhulu mines have become models of responsible mining in Africa.
The report showed that Barrick’s African operations recorded a 65 percent quarter-on-quarter increase in earnings before interest, taxes, depreciation, and amortization (EBITDA), supported by lower operating costs and improved productivity.
Across the region, Barrick’s Kibali Mine in the Democratic Republic of the Congo led in performance, posting a 15 percent rise in gold output the highest among the company’s African mines.
In Zambia, the Lumwana Mine maintained stability despite a 7 percent production drop caused by scheduled maintenance, remaining on track to meet its annual target.
The report also indicated that Barrick’s African operations are well positioned to meet their 2025 production guidance despite operational challenges in Mali, with strong results in Tanzania and the DRC offsetting regional shortfalls.
Globally, Barrick Gold Corporation produced 829,000 ounces of gold and 55,000 tonnes of copper during the quarter, generating USD 4.1 billion in revenue.
Operating expenses amounted to USD 2.4 billion, with cash flow reaching USD 1.5 billion.
Net earnings per share rose to USD 0.76, while adjusted net earnings per share climbed to USD 0.58 up 62 and 23 percent respectively from the previous quarter.
The consistent success of North Mara underlines Tanzania’s growing influence in Africa’s mining landscape and reinforces confidence in the country’s mining reforms and investment environment.
It also highlights how effective partnerships like Twiga Minerals are turning Tanzania’s natural resources into sustainable economic gains.
