Barrick Reaches $300M Acacia Gold Settlement With Tanzania
By Darcy Reddan (October 21, 2019, 6:45 PM EDT) -- Barrick Gold has reached a $300 million settlement with the government of Tanzania to resolve all outstanding tax and related disputes stemming from disagreements the country had with Acacia mining operations.
Barrick Gold Corp. said Sunday that it will pay $300 million to resolve issues between Tanzania and Acacia Mining PLC, which was acquired by Barrick in a deal in July that valued the company at roughly $1.2 billion. Acacia and the government were ensnared in a dispute after two Acacia subsidiaries launched arbitration proceedings against the Tanzanian government in July 2017, a few months after the country imposed a ban on...
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