Twiga Minerals shines at Treasury Registrar’s Excellence Award 2023

By Lake Zone Watch Writer

Twiga Minerals Corporation, a managing partner of Barrick Gold North Mara and Bulyanhulu mines, has been awarded by the Treasury Registrar’s Office for outstanding dividends payments to the government in the Minority Interest category.

The award was handed over to Twiga Corp by President Samia Suluhu Hassan on August 19, in Arusha during the opening of a working session of Board Chairpersons and Government Institutions Executives, hosted by the Office of the Treasury Registrar, in collaboration with the Forum of Government Institutions CEOs.

While naming institutions which performed well in the Minority Interest category, the Treasury Registrar, Nehemia Mchechu showered praise on Twiga Minerals for paying a colossal sum of 84bn/- to the government as dividend during 2022/2023 financial year.

Barrick Gold is the first mining company in Tanzania to form a partnership with the government, a move that has inspired other foreign companies to do the same by signing significant contracts, especially in the mining of rare minerals and gemstones.

The partnership is seen as worth emulating by other nations and Barrick Gold uses it in other countries where it runs a number of investments.

Earlier, in January 2023, when presenting his report to the Parliamentary Committee for Mining, Barrick Corp Country Manager- Finance and Administration, Dr Melkiory Ngido said the company had paid USD 250 million to the government and during 2017/2022, as much as 24.5bn/- was paid to the district councils being taxes levied in areas where mining is being conducted.

“Twiga Minerals has resolved to continue with research in order to boost the life of its mines at North Mara and Bulyanhulu up to 2040 and 2039 respectively,” said Dr Ngido.

Leave a Reply

Your email address will not be published. Required fields are marked *