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Barrick Gold's 'long safari' ends with Tanzania deal
By Fumbuka Ng'wanakilala
Reuters
Friday, January 24, 2020
DAR ES SALAAM, Tanzania -- Canada's Barrick Gold Corp. today signed a deal with Tanzania in which the government will take stakes in three gold mines, ending a long-running tax dispute and setting a template for negotiations with other firms.
It was signed by Barrick CEO Mark Bristow and Tanzanian minerals minister Doto Biteko at a ceremony here, the commercial capital.
... Dispatch continues below ...
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It follows an announcement by the two sides in October in which they agreed to a payment of $300 million to settle outstanding tax and other disputes, the lifting of an export ban on concentrates, and the sharing of future economic benefits from mines.
South Africa-born Bristow, describing the dispute as a "long safari" since it emerged in 2017, struck a conciliatory tone in a speech at the ceremony broadcast on state TV. Safari means "journey" in Swahili. ...
... For the remainder of the report:
https://www.reuters.com/article/us-tanzania-mining/barrick-golds-long-sa...
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