Three die in Tanzania mine

Dar es Salaam, Tanzania — MININGREVIEW.COM — 18 March 2010 – African Barrick Gold (ABG) “’ the African spin-off of leading international gold producer Barrick Gold Corporation, the world’s biggest producer of the precious metal “’ says three workers were killed in a collapse at one of the company’s mines in Tanzania.

The Toronto-based company said here in an announcement on its Website that it had suspended mining activities after the accident at the Bulyanhulu mine, in order to start rescue and recovery operations. “The rescue attempt will be suspended tomorrow for a period of mourning and is expected to be fully restored thereafter,” Barrick added.

Bulyanhulu is one of four Tanzanian mines included in a planned spinoff of the company’s African assets in an initial public offering in London, Barrick said last month.

The company is seeking to raise as much as US$996 million (R7.47 billion) from the sale of about 100 million shares of African Barrick Gold Plc, according to terms of the sale obtained by Bloomberg News. The shares would be priced at 550 pence to 650 pence each, according to the document.