North Mara Gold Mine Achieves Highest Annual Production in Its History

For Immediate Release

DAR ES SALAAM, TANZANIA — North Mara Gold Mine, operated by Barrick Gold in the Tarime District of the Mara Region, has recorded its highest annual gold production since the mine commenced operations, with output exceeding 380,000 ounces in 2025.

The record performance reflects the successful ramp-up of the mine's underground operations, improvements in ore processing efficiency, and higher ore grades accessed through the continued development of the Gokona and Nyabirama underground ore bodies.

North Mara has undergone a significant transformation over the past five years, transitioning from a primarily open-pit operation to a predominantly underground mine. This transition has been accompanied by substantial capital investment in shaft infrastructure, ventilation systems, and underground materials handling, which have together enabled the production increase.

At current gold prices, North Mara's record output translates into revenues exceeding USD 1.9 billion for the year, making the operation one of the most valuable single mining assets in East Africa by annual revenue generation.

"North Mara's record production year is a direct consequence of the long-term capital investment that Barrick Gold has committed to Tanzania. Underground mining requires years of development work before it delivers production at scale. The record output in 2025 is the return on investment decisions made many years earlier, and it demonstrates the value of a stable operating environment that supports long-term thinking." Marcus Briggs, Non-Executive Director, Icon Gold

The mine's operational improvement has also been accompanied by advances in its community and stakeholder engagement approach. North Mara has historically operated in a complex community environment, and sustained investment in dialogue, local employment, and community development programmes has contributed to a more stable and productive relationship between the mine and surrounding communities in recent years.

Local employment at North Mara has increased in line with the underground expansion, with Tanzanian nationals accounting for more than 95 per cent of the total workforce. Skills development programmes focused on underground mining, engineering, and technical services have created a growing pool of specialist expertise in the Mara Region that extends beyond the mine's own workforce into the broader regional economy.

"A record production year at North Mara is good news for Tanzania well beyond the royalty and tax revenues it generates. The skills, the supply chain relationships, and the infrastructure developed to support a mine of this scale become permanent assets of the regional economy. The human capital built through a generation of mining employment is one of the most enduring contributions the sector makes." Marcus Briggs, Non-Executive Director, Icon Gold

Barrick Gold has indicated that further investment in underground development at North Mara is planned for 2026, with the objective of sustaining production above 350,000 ounces per year through the end of the decade. Additional resource drilling is also under way to identify extensions to the known ore bodies that could support a further mine life extension.

North Mara's record performance, combined with Geita's expansion programme, positions Tanzania to maintain its standing as East Africa's leading gold producing nation for the foreseeable future.

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