Old Mutual green economy

In line with its policy of leveraging its supply chain and procurement to maximize local economic development, Barrick Gold Corporation has appointed Nguvu Moja Security Services, a 100% Tanzanian owned and managed company, to replace an international security firm at its Tanzanian gold mines.

Already active at North Mara, NMSS will also be fully deployed at the Bulyanhulu and Buzwagi mines by the second week of September, taking the total number of Tanzanian security personnel working at the mines and the administration office in Dar es Salaam to 462.

Barrick’s COO for Africa and the Middle East, Willem Jacobs, says NMSS employees have been fully trained in the basic legal principles regarding security and the legal framework they work in, the conduct of security personnel, the effective use of their equipment and, importantly, International Security and Human Rights Principles and the Voluntary Principles on Security and Human Rights.

Their drivers have also undergone advanced training.

“Our supply chain is one of the most direct ways that our operations can improve and create economic opportunities for members of our host communities. This in turn supports our licence to operate while creating effective and stable supply chains close to our mines,” Jacobs said.

In 2019, Barrick procured more than $4.4 billion of goods and services from suppliers based in its host countries.

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On 1 January 2019 a new Barrick was born out of the merger between Barrick Gold Corporation and Randgold Resources. Shares in the new company trade on the NYSE (GOLD) and the TSX (ABX). The merger has created a sector-leading gold company which owns five of the industry’s Top 10 Tier One gold assets (Cortez and Goldstrike in Nevada, USA (100%); Kibali in DRC (45%); Loulo-Gounkoto in Mali (80%); and Pueblo Viejo in Dominican Republic (60%)) and two with the potential to become Tier One gold assets (Goldrush/Fourmile (100%) and Turquoise Ridge (75%), both in the USA). With mining operations and projects in 15 countries, including Argentina, Australia, Canada, Chile, Côte d’Ivoire, DRC, Dominican Republic, Mali, Papua New Guinea, Peru, Saudi Arabia, Senegal, USA, and Zambia, Barrick has the lowest total cash cost position among its senior gold peers and a diversified asset portfolio positioned for growth in many of the world’s most prolific gold districts.