Tanzania Signs New Implementation Deal With Barrick

Tanzania and the Canadian mining giant Barrick Gold Corp on Friday signed an agreement to kick-start their new joint venture company to oversee Barrick's future gold mining operations in the country, as a way forward following a year long impasse.

"Being a year now, we have finally completed the long journey of negotiations and renegotiations and agreed on nine key points that will underpin the activities of Twiga Mining company, a joint company between the Tanzanian government and Barrick," Foreign Affairs Minister Prof Paramagamba Kabudi said at the signing held in State House in Dar es Salaam, and witnessed by President John Magufuli.

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