The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Wednesday, 30th August 2006 (2084 views)

The government of Tanzania has praised gold company Barrick for its tackling of mining issues in the East African nation.

Barrick has agreed to pay around $7 million each year, ipp media reports, which will greatly benefit the local economy.

Dr Ibrahim Msabaha, the minister for energy and minerals, said that foreign investment was welcome as it allowed investors with the capital and technology but not mineral resources to join forces with a country that had resources but not the technology.

He added that the presence of mining firms in Tanzania had positively impacted education and health services as well as infrastructure such as water supplies.

Barrick operates three mines in Tanzania – Bulyanhulu, North Mara and Tulawaka. Since work began at the Bulyanhulu mine, Barrick subsidiary Kahama Mining has worked with the government and NGOs on programmes that "are having an impact on primary and secondary educational performance and attendance".

 

« Back to Gold News stories