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Tanzania renews Barrick’s North Mara gold mine licences for 15 years
The renewal removes separate tenure risk for the North Mara operation, as Barrick looks to reverse a sharp first-half production decline and target 200,000 to 230,000 attributable ounces in 2026.
Tanzania has renewed Barrick Mining’s North Mara gold mine licences for 15 years, securing the operation’s tenure as Barrick weighs an expansion, according to Mining.com. The mine is located about 540 km northwest of Dodoma and 20 km south of the Kenyan border.
Barrick owns 84% of North Mara, with Tanzania holding the remaining 16%. North Mara produced 249,000 attributable ounces last year, and its two special mining licences were previously renewed for 15 years in 2012.
Mining.com reports the latest approvals eliminate a separate tenure risk tied to those special licences. Barrick is now focused on reversing a sharp first-half production decline, meeting its 2026 attributable guidance of 200,000 to 230,000 ounces, and deciding whether to expand the North Mara-Bulyanhulu complex.
Barrick’s Toronto-traded shares were down 1% at C$56.84, or US$39.87, by mid-Monday, after having tracked 20% higher over the prior 12 months, according to Mining.com. The article also notes attributable output fell 47% to 68, though the trailing figure is cut off in the provided text.
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