OTTAWA (dpa-AFX) - Barrick Mining Corp. (B, ABR0.DE, ABX.TO) on Monday said that the Government of Tanzania has renewed the Special Mining Licenses for the North Mara Gold Mine for another 15 years.
Barrick and the Government of Tanzania established Twiga Minerals in 2019 to jointly operate the North Mara and Bulyanhulu mines. The Government holds a 16 percent interest in each mine, while the two partners share the economic benefits equally.
Commenting on the developments, Seb Bock, Chief Executive Officer of Barrick's Rest of World business, said, 'This is an important milestone for North Mara and for our partnership with Tanzania. Since 2019, we've worked with the Government of Tanzania and local communities to build a stronger partnership and to create more opportunities for all Tanzanians. At the core of our business is building partnerships of real depth and trust with all stakeholders, and this renewal reflects that commitment.'
On the NYSE, B ended Friday's trading at $40.23, up $0.13 or 0.32 percent. In overnight trading, the stock is down 0.35 percent at $40.09.
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