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Barrick Gold's Tanzania Unit to List on Domestic Bourse

African Barrick Gold, which has four gold mines in Africa's fourth largest gold producer Tanzania, said Wednesday it was planning to cross-list on the country's bourse by the end of this year.

The Tanzanian-focused miner, a unit of the world's largest gold miner Barrick Gold Corp., also said it was planning to double output to 2 million ounces by 2024 from a projected 1 million ounces in 2014.

"We have made a commitment to cross-list on the Dar es Salaam Stock Exchange. Our initial plan was to cross-list by the end of September," ABG's Vice President for Corporate Affairs, Deo Mwanyika, told a news conference in Dar es Salaam.

"We are still targeting cross-listing before the end of this year and progress has so far been good," said Mwanyika.

ABG produced nearly 700,000 ounces of gold last year, Mwanyika said, and has a resource of 30 million ounces in Tanzania.

In July, the firm posted forecast-beating output and a 54 percent jump in second-quarter income, despite setbacks including an armed attack on one of its mines.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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