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According to Barrick’s chief operating officer for the Africa and Middle East region, Sebastiaan Bock, the airport terminal and Academy form part of Barrick’s plan to turn Buzwagi into a Special Economic Zone (SEZ).
The mine complex, run entirely by locals, have maintained its record of delivering value to the state and the people, despite multiple changes in government and administration, he added.
The notes will amortize based on a guaranteed floor price of $1,800/oz. Any excess proceeds by which the gold price exceeds the floor price will be paid to investors as a premium.
Opponents say the waste material will threaten water quality and trout populations in the Smith River. A separate challenge of the mine's water permit is pending.