President Magufuli Was a Visionary, Says Barrick

Rhea-AI Summary

Barrick Gold Corporation (NYSE:GOLD) mourns the loss of Tanzanian President John Magufuli, who passed away recently. CEO Mark Bristow praised him as a visionary statesman who recognized the mining sector's importance to Tanzania’s economy. Under his leadership, Barrick established the Twiga Minerals Corporation joint venture, aimed at ensuring the benefits of mining are shared equally. This partnership serves as a model for future collaborations between governments and mining companies in Africa, standing as a testament to the late president’s foresight.

Positive

• Establishment of Twiga Minerals Corporation for equal economic benefit sharing.
• Recognition of the importance of a thriving mining sector to Tanzania's economy.

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• None.

TORONTO, March 18, 2021 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) president and chief executive Mark Bristow today said the company mourned with the people of Tanzania at the loss of President John Magufuli, who passed away yesterday.

Bristow described the late president as a visionary statesman who saw the value of a thriving mining sector to his country’s economy and partnered with Barrick in a joint venture, Twiga Minerals Corporation, to manage the company’s mines in Tanzania and to share the economic benefits they generated equally between Barrick and its stakeholders in that country. Bristow said Twiga would stand as a monument to the late president’s foresight and should serve as a model for future partnerships between governments and mining companies in Africa.

Enquiries

President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386

COO, Africa and Middle East
Willem Jacobs
+44 779 557 5271

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com

Website: www.barrick.com

FAQ

What did Barrick Gold say about the passing of Tanzanian President John Magufuli?

Barrick Gold expressed condolences for President John Magufuli's passing, highlighting his role in supporting the mining sector.

How did the late President Magufuli contribute to Barrick Gold's operations in Tanzania?

He partnered with Barrick Gold to create the Twiga Minerals Corporation, focusing on equitable sharing of mining benefits.

What is Twiga Minerals Corporation in relation to Barrick Gold?

Twiga Minerals Corporation is a joint venture between Barrick Gold and Tanzania aimed at managing the company's mines and ensuring shared economic benefits.

What is the stock symbol for Barrick Gold Corporation?

The stock symbol for Barrick Gold Corporation is GOLD.

Why is Twiga Minerals Corporation considered a model for future partnerships?

It exemplifies how governments and mining companies can collaborate to ensure mutual economic benefits.