Tanzania has renewed the special mining licences for Barrick's North Mara gold mine for another 15 years, letting it keep operating under its current ownership. The renewal comes two days before a London trial over deaths at the mine begins.
At a glance
- Tanzania's government holds 16% of North Mara through Twiga Minerals, a partnership set up with Barrick in 2019.
- Barrick says it has put $5.3 billion into Tanzania's economy since 2019, including $1.2 billion in 2025.
- Tanzanians make up 96% of the mine's workforce of about 3,000 people.
Background
North Mara is a gold mine in northern Tanzania operated by Barrick Mining Corporation. A special mining licence is the permit Tanzania grants for large mines. Since 2019, Barrick and the government have run North Mara and the Bulyanhulu mine through Twiga Minerals, in which the government holds 16% of each mine and the two partners share the economic benefits equally.
What happened
The Government of Tanzania has renewed the special mining licences for North Mara for another 15 years, Barrick said on Monday. The renewal lets the operation continue under its existing ownership and partnership structure, set up in 2019 when Barrick and the government created Twiga Minerals.
"At the core of our business is building partnerships of real depth and trust with all stakeholders, and this renewal reflects that commitment," said Seb Bock, chief executive of Barrick's Rest of World business. Tarime District Commissioner Major Edward Gowele said: "Residents now really view the mine as a community partner."
What Barrick says the mine brings
Barrick says it has contributed about $5.3 billion to Tanzania's economy since 2019 through taxes, royalties, salaries, dividends and local purchasing, including $1.2 billion in 2025. More than 90% of its procurement comes from Tanzanian-registered companies.
Tanzanians make up 96% of North Mara's workforce of about 3,000, and 47% come from the communities around the mine. In 2025, the government named Barrick the top dividend payer and highest contributor to government revenue.
A trial in London
The renewal lands days before a closely watched case. From October 7, the London Bullion Market Association, which sets the rules for London's gold market, defends a High Court claim brought by the families of two 23-year-old men killed at North Mara in 2019.
Barrick is not the defendant. Human Rights Watch says the company acknowledges the deaths occurred but says police at the site operated independently. The case tests whether the bullion market's rule-setter owed the men a duty of care.
Our read
Outlook: neutral. The renewal keeps an existing mine running rather than adding new supply, so it has no meaningful effect on gold prices.
What to watch
- The London High Court trial of the LBMA, which opens on October 7.
- Any new investment Barrick announces at North Mara under the renewed licences.
For information only, not investment advice.
Gold price in India
metalscost.com India reference price as of 2026-11-01.
Detailed analysis
Timeline
- 2026-10-05: Tanzania renews North Mara's special mining licences for 15 years.
- 2026-10-07: The LBMA trial over deaths at North Mara is due to open in London.
Government Policies
Tanzania holds 16% of the mine and shares its economic benefits equally with Barrick.
Mining Production
The renewal secures 15 more years of operation at North Mara.
What could lift prices
- Legal and reputational risk around North Mara could pressure gold supply chains if refiners avoid the mine's output.
- Producer governments are taking a larger share of mining value, which can raise costs.
What could weigh on prices
- The renewal secures continued gold output from North Mara for 15 years.
- Stable licensing reduces supply risk in Tanzania.
Country impact
| Country | Impact | Reason |
|---|---|---|
| Tanzania | High | The renewal secures a major source of jobs, taxes and dividends for 15 more years. |
Industry impact
| Industry | Effect | Reason |
|---|---|---|
| Gold Mining | Positive | A long licence renewal gives Barrick certainty to keep investing at North Mara. |
Who gains, who loses
- Barrick Mining Corporation: It secures the right to operate North Mara for another 15 years.
- Tanzania's government: It keeps its 16% stake and an equal share of the mine's economic benefits.
- Refiners sourcing from North Mara: They face renewed scrutiny as the LBMA trial over deaths at the mine opens.
Other ways this could play out
- If the London court finds the LBMA owed a duty of care, refiners may face pressure over gold sourced from mines like North Mara.
- If the LBMA wins, the renewal leaves North Mara's operations largely unaffected by the case.
Price risks
- A ruling against the LBMA could disrupt how London accredits refiners.
- Any new incident at the mine could revive scrutiny of its licences.
Technical view
Price is trading below both its 20-period and 50-period moving averages, a bearish alignment.
Computed from metalscost.com's own stored price history.
