JOHANNESBURG (miningweekly.com) − African Barrick Gold started trading on the Dar es Salaam Stock Exchange (DSE) on Wednesday.

The company, which has its main listing in London, now has a secondary listing in Tanzania, where trading would take place in the form of DSE depository receipts.

“This represents an important step in establishing a framework to promote broader liquidity and ownership of our shares in Tanzania as part of our longer term commitment to the country,” African Barrick said in a statement.

The miner, a unit of Canada’s Barrick Gold, is Tanzania’s largest gold producer, with four producing mines and several exploration projects at various stages of development.

African Barrick is forecasting gold production of between 760 000 oz and 800 000 oz for 2011. It is targeting production of one-million ounces a year by 2014.
 

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