Barrick’s Tanzania Mines Advancing To Tier One Status

TORONTO - Barrick Gold reported that Bulyanhulu Gold Mine – North Mara and Bulyanhulu, which were moribund gold mines when Barrick took over their management two years ago, delivered a combined production of more than 500,000 ounces1 in 2021, meeting a key criterion for membership of the company’s elite Tier One portfolio. The within-guidance performance was achieved with both mines retaining their ISO 45001 safety and ISO 14001 environmental accreditations, in common with Barrick’s other operations.

North Mara is on track to become a fully integrated mine with the planned commissioning of the Nyabirama pit during the current quarter and the scheduled commencement of the Nyabigena pit in the third quarter of 2022. This is expected to add substantial resources and increased flexibility to its plan. Bulyanhulu has been re-established as a world-class, low-cost, long-life underground mine as it achieved steady state production on the successful ramp-up of its mining and metallurgical operations in December 2021.

Both mines are expected to report a significant growth of their mineral reserves, net of depletion, for 2021.