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Barrick North Mara Mine in Tanzania Sees 24% Rise in Output

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by MaxShimba, Aug 19, 2009.

  1. MaxShimba

    MaxShimba JF-Expert Member

    Aug 19, 2009
    Joined: Apr 11, 2008
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    Barrick North Mara Mine in Tanzania Sees 24% Rise in Output

    By Ray Naluyaga
    Aug. 18 (Bloomberg) -- Barrick Gold Corp.'s North Mara mine in north-western Tanzania is expected to increase production by as much as 24 percent this year.

    "After producing 197,000 ounces at a total cash cost of $757 an ounce in 2008, the latest estimates put expected 2009 output at between 225,000 and 245,000 ounces of gold at much lower cash costs of $445 to $495 an ounce," Barrick's Vice President for Africa, Gareth Taylor, said in an interview in Dar es Salaam yesterday.

    In March this year, Barrick cut more than 200 jobs and shut one of three pits at the mine, located 100 kilometers (62 miles) east of Lake Victoria, after theft and vandalism increased costs.

    Tanzania is the continent's third-largest producer of the metal after South Africa and Ghana. Barrick began production at its Buzwagi mine in May.

    To contact the reporter on this story: Ray Naluyaga in Dar es Salaam via Johannesburg on 1999 or
    Last Updated: August 18, 2009 10:20 EDT

    How much is Tanzania getting from these guys? How much is Gov of Tanzania collecting for each exported ounce?
  2. LazyDog

    LazyDog JF-Expert Member

    Aug 20, 2009
    Joined: Apr 10, 2008
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    Hiyo ni production cost au ni cost ipi?
    Bei ya gold ikoje hivi sasa?
    Itakayovunwa itauzwa mara moja au itahifadhiwa ipate soko zuri baadae?