According to the miner's statement, the company's President and chief executive
"This is a striking example of what a true partnership can achieve in building a sustainable business capable of creating long-term value for all stakeholders," he said.
The settlement tranche originates from the 2017 dispute, where
Hence, the dispute led to the formation of a joint-company -
"I congratulate Barrick for implementing our agreement and call upon other mining firms to emulate the move in ensuring a win-win situation," said the
Further, Barrick's statement also indicated that "In terms of its framework agreement with the government, the shipping of some 1,600 containers of concentrate stockpiled from Bulyanhulu and Buzwagi resumed in April and the first
Other Barrick settlement issues
Regarding land compensation issues, a different approach has been taken, whereby instead of the mine handling it, the process "is being overseen by a committee representing Twiga, the government, the local authorities and the affected communities. This will ensure that the process is transparent and that issues are dealt with fairly and promptly" Barrick said.
Hence, according to the miner statement, 90 per cent of the outstanding land claims at North Mara have been settled with payment scheduled to begin yesterday. Henceforth, a commercial bank has been appointed to provide financial training to the compensated landowners.
Further,
As environmental rules were violated, operationally since taking over North Mara, Barrick has focused on improving the mine's water management with special emphasis on its tailings storage facility.
"Barrick's intervention had put an end to 15 years of poor water management on-site and has ensured that going forward its environmental risks are properly contained in line with the group's best practice standards," the statement indicated.
Also, the joint-company--Twiga Minerals has resumed exports of gold concentrate from
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