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DAR ES SALAAM -
African Barrick Gold, which has four gold mines in Africa's fourth
largest gold producer Tanzania, said on 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.
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