Barrick Gold Tanzania: We stay put
Barrick Gold Tanzania said yesterday it has been, and will remain, committed to the country and has no intention of halting or pulling out its operations. In an immediate rejoinder to media reports to the contrary, a spokesperson of the giant firm with mining interests in different parts of the country said: “We have no such intentions. Barrick Gold has invested over 1.5 billion US dollars in Tanzania. In fact, we have reached advanced construction stages of a new mine in Kahama, Shinyanga Region.“
However, Barrick Vice President (Africa Region) Gareth Taylor and Barrick Gold believe that the current international turmoil forces it, like every other responsible business, to carefully examine its operations that are subjected to high cost, operating challenges and intensive capital requirement regardless of their jurisdiction, he added.
The spokesperson reiterated the company`s commitment to working constructively with the government “to ensure that the country\’s mining laws and investment environment climate remain competitive so that Tanzanians continue to benefit from mining.“
On Friday, a cross section of the media in the country quoted Taylor as saying that the firm had for several years recorded declining profit and was considering pulling out.
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