By: OrePulse

Tanzania's government has renewed Barrick Mining Corporation's operating licences for the North Mara gold mine for a further 15 years, the company said, removing a tenure-risk overhang as it works to rebuild production at the site after a weak first half.

The two special mining licences covering North Mara, located about 540 kilometers northwest of Dodoma and roughly 20 kilometers south of the border with Kenya, had previously been renewed for 15 years in 2012. North Mara combines open-pit and underground operations.

Barrick holds an 84% interest in the mine through Twiga Minerals, a joint venture it formed with the Tanzanian government in 2019 to manage North Mara and the nearby Bulyanhulu mine; Tanzania holds the remaining 16% in each operation under that arrangement.

North Mara produced 249,000 attributable ounces of gold last year. In the first half of 2026, attributable production fell 47% year over year to 68,000 ounces from 129,000 ounces, while all-in sustaining costs rose 79% to $2,283 an ounce from $1,272 an ounce, which the company attributed in part to lower ore grades. Barrick has maintained its 2026 guidance of 200,000 to 230,000 ounces at all-in sustaining costs of $1,520 to $1,680 an ounce, which would require second-half production of 132,000 to 162,000 ounces.

The mine's proven and probable reserves were estimated at 3.2 million ounces of gold, contained in 43 million tonnes of ore at an average grade of 2.32 grams per tonne, as of year-end 2025.

Barrick took full control of the Tanzanian operations in 2019 after acquiring Acacia Mining, and it settled a dispute with the Tanzanian government over the assets in 2019 and 2020. Under that settlement, Barrick agreed to pay Tanzania $300 million and gave the government a 16% free-carried interest in the operations. The company said its Tanzanian business has generated roughly $5.3 billion in combined tax, royalty and other contributions to the country since 2019.

Barrick said local employees make up 96% of its roughly 3,000-person workforce at the operations, with close to half drawn from communities near the mine. Community development committees made up of local representatives help set priorities for infrastructure spending, including schools, health clinics and roads, the company said.

Rest of World chief executive Seb Bock said the licence renewal "reflects that commitment" to building partnerships with stakeholders around the mine. Tarime District Commissioner Major Edward Gowele said relations at the mine "have strengthened since Barrick took over," adding that residents in the area increasingly view the operation as a community partner.

The renewal gives Barrick a clearer path to pursue a recovery in output at North Mara following the steep first-half decline, and the company said it is also evaluating potential expansions to processing capacity across the North Mara-Bulyanhulu complex.