SMM10, March 26 / PRNewswire-FirstCall-Asianet /-- Barrick Gold company (Barrick Gold Corp) said Friday that Tanzania has issued 10 new exploration licenses and plans to spend US $8 million on exploration in Tanzania this year.
Barrick oversees its asset management in Tanzania through Twiga Minerals Corp, Twiga Minerals Corp, a joint venture between Barrick Gold and the Tanzanian government last year.
Twiga Minerals manages the Bulyanhulu,North Mara and Buzwagi mines in Tanzania.
Mark Bristow, chief executive of Barrick, said, "We are stepping up preparations for the merger of North Mara and Bulyanhulu into a comprehensive primary mine, which is expected to produce at least 500000 ounces of gold a year for more than 10 years."
