Bulyanhulu gold mine

Bulyanhulu is a high-grade underground gold mine, located in Tanzania. It is owned and operated by Barrick Gold Corp, following the consolidation of their ownership of Acacia Mining on 17 September 2019. The Government of Tanzania will receive a 16% free carried interest in each of the former Acacia mines. Mining has historically been from the Bulyanhulu deposit, complemented by production from the Upper East zone located approximately 2km from the main Bulyanhulu shaft. Following a concentrate export ban in 2017, underground mining activities were suspended and the mine transitioned to a reduced / limited operations phase. Following Barrick's consolidation of their ownership of Acacia and forgoing a 16% free carried interest to the Government of Tanzania, the ongoing dispute has been resolved and the concentrate ban lifted. In 2020, Barrick resumed underground mining activities by year-end and were expecting to ramp up production through the first half of 2021.