African Barrick Gold
|Type||Public (LSE: ABG)|
|Headquarters||London, United Kingdom|
|Key people||Kelvin Dushnisky, Chairman
Bradley Gordon, CEO
|Revenue||US$1,087.3 million (2012)|
|Operating income||US$127.5 million (2012)|
|Net income||US$48.2 million (2012)|
The business was established as a unit of Barrick Gold when that company started mining in Tanzania in 2000. Barrick's involvement in Tanzania had begun the previous year, when the company purchased the Bulyanhulu property as part of its acquisition of Sutton Resources Ltd. Barrick then acquired Buzwagi and Tulawaka as part of its acquisition of Pangea Goldfields Inc. in 2000. Finally, in 2006, Barrick acquired North Mara, when it took over Placer Dome. The company was floated off by Barrick Gold and first listed on the London Stock Exchange in 2010.
Bulyanhulu Gold Mine
The Bulyanhulu Gold Mine is an underground gold mine in the Shinyanga Region of Tanzania, located 55 kilometres south of Lake Victoria. Barrick acquired the project in 1999 when it purchased Sutton Resources and the mine opened in 2001. The opening of Bulyanhulu, Tanzania's deepest mine, made Tanzania the third largest producer of gold in Africa.
Buzwagi Gold Mine
The Buzwagi Gold Mine is an open pit gold mine in the Shinyanga Region of Tanzania, located 6 kilometres southeast from the town of Kahama. The mine, which opened in 2009, is the second largest mining operation and the largest single open pit mine in Tanzania.
North Mara Gold Mine
The North Mara Gold Mine is an open pit gold mine in the Tarime District of the Mara Region of Tanzania. The mine, which opened in 2002, was acquired by Barrick through the takeover of Placer Dome in 2006.
The Tulawaka Gold Mine is a combined underground and open pit gold mine located in the Biharamulo district, in the Kagera Region of Tanzania. African Barrick Gold owns 70% of the mine, while the remaining 30% are owned by Northern Mining Exploration Ltd. The mine, which opened in 2005, was under threat of closure in August 2013.
- Preliminary Results 2012
- African Barrick Gold Targets Sh1.3 Trillion in Initial Public Offer (IPO) The Citizen, 25 February 2010
- Overview / Profile&categoryChosen=History of ABG ABG African Barrick Gold website: History accessed: 24 July 2010
- African Barrick Gold floats at bottom of price range The Times, 19 March 2010
- African Barrick Gold website accessed: 22 July 2010
- African Barrick Gold website: Bulyanhulu Gold Mine accessed: 22 July 2010
- Thomaz, Carla (7 October 2005). "Bulyanhulu Mine". Creamer's Mining Weekly. Retrieved 21 July 2010.
- Dean, Roger (22 July 2001). "Tanzania's pot of gold". BBC News. Retrieved 22 July 2010.
- Tanzania: Barrick Mulls Closing Tulawaka Mine All Africa, 27 August 2013