Please note: you are viewing an old version of this deal. The current version can be found here: Deal #4769
Deal #4769 Version #69356
Tanzania
Created at
2015-09-11
Last update
2017-02-02
Last full update
2017-02-02
Land area
Intended size
6 800 ha
Size under contract (leased or purchased area)
- [2000, current] 6800.0 ha
Comment on land area
Second largest mining operation and the largest single open pit mine in Tanzania. 68 square kilometers
Intention of investment
Intention of investment
- [current] Mining
Nature of the deal
Nature of the deal
Exploitation permit / license / concession (for mineral resources)
Comment on nature of the deal
The current life of mine is estimated to be 5 years with 3 years of mining and 2 years of processing stockpiles based on proven and probable gold reserves of 0.9 million ounces.
Negotiation status
Negotiation status
- [2000, current] Concluded (Contract signed)
Comment on negotiation status
Barrick acquired Pangea Goldfields Inc. in 2000.
Implementation status
Implementation status
- [2009, current] In operation (production)
Comment on implementation status
Pangea Goldfields Inc did not bring the mine into operation. The mine first came into production in 2009. The feasibility studies of the mine were completed in 2006. The development of the mine began in 2007 and was completed in 2009. The mine commenced operations in May 2009 and is expected to be shut-down in 2022. Mine will be closed in December 2017 due to fall in production.
Contract farming
Contract farming
No