TANZANIA – In 2005, the Tulawaka mine produced 124,743 oz of gold since its first pour on March 15. The total exceeds the year’s target by 12%. Since start-up a total of 110,513 oz of gold have been sold on the spot market at an average price of US$465/oz.
The Tulawaka project is a joint venture between Montreal’s MDN NORTHERN MINING (30%) and PANGEA GOLDFIELDS (70%), a wholly-owned indirect subsidiary of BARRICK GOLD, which operates the mine. The project is described at both www.Barrick.com and www.Xnord.com.
The mine has registered more than 3.9 million man-hours without a single lost-time accident.