Tanzania Extends Barrick’s North Mara Mining Licenses for 15 Years…

Event summary

Tanzania renewed Barrick’s Special Mining Licenses for the North Mara Gold Mine for 15 years, ensuring long-term operational continuity.
Barrick has invested $5.3 billion in Tanzania since 2019, with $1.2 billion in 2025 alone through taxes, royalties, and local procurement.
96% of North Mara’s 3,000-strong workforce are Tanzanian nationals, with 47% from surrounding communities.
Barrick and the Tanzanian government co-own the mine through Twiga Minerals, with the government holding a 16% stake.

The big picture

The 15-year license renewal underscores Tanzania’s commitment to long-term mining partnerships, reflecting broader trends in resource nationalism and stakeholder-driven governance. Barrick’s $5.3 billion investment since 2019 highlights the strategic importance of the North Mara mine, which remains a key asset in the company’s global portfolio. The co-ownership structure through Twiga Minerals sets a precedent for how mining companies and governments may collaborate in the future.

What we're watching

Governance Dynamics: How the deepened partnership between Barrick and Tanzania will affect future mining operations and investments.
Execution Risk: Whether Barrick can sustain its high levels of local employment and procurement commitments over the next 15 years.
Regulatory Headwinds: The pace at which other African nations may adopt similar co-ownership models for mining assets.