You are here

Barrick moves closer to resolving Acacia dispute with Tanzania

Section: Daily Dispatches

By Danielle Bochove, Thomas Biesheuvel, and Kenneth Karuri
Bloomberg News
Wednesday, December 12, 2018

Barrick Gold Corp. has reached an agreement with the Tanzanian government on a $300 million payment, a milestone toward resolving a dispute that has crippled the miner’s subsidiary in the African country, according to people familiar with the situation.

Executives from the Toronto-based producer and Randgold Resources Ltd., which is being bought by Barrick, met with Tanzanian negotiators on Dec. 7, said the people, who declined to be identified as the talks are private.

During that meeting the two sides made significant progress on a deal that includes Acacia Mining paying $300 million in installments. The terms are now being handed off to a tax working group in Tanzania for review, the people said. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-12-12/barrick-gold-is-said-...



ADVERTISEMENT

Goldco Is America's No. 1 Gold IRA Provider

Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.

To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:

https://goldco.com/



Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16