Barrick yapunguza 200

PRESS RELEASE

Voluntary Separation at North

Mara09 – The North Mara Gold Mine (NMGM) has revised its mining plan in order to make the operation more efficient which will result in reduced employment levels through a voluntary separation program.

The operation has experienced higher than expected operating costs and has been adversely impacted by frequent operational disruptions due to theft and vandalism of company property and equipment.

Consequently NMGM management closed one of the three mining pits and revised its labour requirements downwards by 19%, which translates to around 200 jobs. Management offered the option of a voluntary separation incentive to employees in affected areas and where redeployment to other Barrick operations in Tanzania was not available.

The voluntary separation package presented by NMGM management significantly exceeds the legal minimum. 194 Tanzanians accepted the separation package and 22 expatriate contracts have been terminated. The revised mine plan will enable NMGM to retain 715 employees.

The General Manager, Kevin Moxham said, the company recognizes that these are extremely challenging and uncertain times for its employees and the mining industry. In offering the package, the company’s intent is to provide an opportunity for the operations to continue and retain a large number of the workforce. NMGM expects that it will produce about 225,000-245,000 ounces of gold in 2009.

A number of higher cost operations and projects around the world have been suspended, delayed or cancelled due to operational challenges, cost pressures and the dramatic reduction in global economic activity.


About Barrick Gold
Barrick Gold Corporation is the world’s preeminent gold mining company. Barrick shares are listed on the Toronto and New York stock exchanges

Barrick Gold Tanzania operates three mines in Bulyanhulu, North Mara and Tulawaka and has reached advanced stages of construction of the Buzwagi project.

Issued By;

Teweli Kyara Teweli
PR & Communications Mnanager

Barrick Gold Tanzania,
Plot 1736, Hamza Aziz Road,
Msasani Peninsula
P. O. Box 1081, Dar es Salaam
United Republic of Tanzania
* tteweli@barrick.com