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, 28th February 2007 (3844 views)

Gold mining company Barrick Gold Tanzania has announced plans to proceed with the development of the Buzwagi project in the country, following the completion of a feasibility study.

The company has recently agreed a mineral development deal with the Tanzanian government to help act as a springboard for the development of the gold mining project, which currently costs around $400 million (£204 million).

Barrick Gold's executive director for corporate and legal affairs, Deo Mwanyika, told Mineweb that the project at Buzwagi will become the next gold mine in the country for the multinational, and will continue its trend for the construction of sustainable mines that benefit the government and the local community.

He said: "Tanzania is a core area of development for Barrick and we are committed to building and operating our mines in a responsible manner, ensuring that communities share the benefits of mining."

"We look forward to working with the government and the community on this exciting project," he added.

The mine is expected to produce around 250,000 ounces of gold a year.

 

« Back to Gold News stories