Barrick Gold's Tanzania plan

Barrick Gold's Tanzania plan

Carmel Melouney Carmel Melouney

Carmel Melouney

Director, Communications at Powerhouse

Published Feb 21, 2019
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A new agreement between Toronto-based Barrick Gold and Tanzania could end a gold export ban at the company’s subsidiary Acacia Mining PLC. The deal proposed a 50/50 split, including taxes and royalties, between Acacia and Tanzania. The company would also pay, over time, US$300 million to settle a tax claim. Barrick, which owns 63.9% of Acacia, has been negotiating with the country on behalf of Acacia. Barrick recently got a new CEO, Mark Bristow — it was hoped Bristow’s long history of operating successfully in Africa could help end the long-running dispute.

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    PETER VANGELATOS

    Engineer, a Top Tier Consultancy Advisor (Performance Improvement & Change Management)

    TANZANIA : “We should get to a point where we are reserving our gold, because gold is similar to money,” Magufuli said. “When the shilling depreciates, our gold reserves can restore the value lost. Many countries are doing that, we too can do the same.” #BARRICK GOLD #ACACIA #goldmining

    Tanzania President wants reserves to include nation's gold

    Tanzania President wants reserves to include nation's gold

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    Michael Prassas

    Entrepreneur | Father | Supply Chain Advisor | Critical Raw Material Expert | Rare Earths | Lithium-ion battery Recycling | EV enthusiast | Assisting companies in enhancing their value proposition and strategy

    Good momentum in Tanzania! Barrick has reached a deal with Tanzania on a $300 million payment, sources say. Definitely good for the Tanzania Mining Industry! https://lnkd.in/f3f9VwE … via @markets #tanzania #mining #SML #financing #nextbigthing #finance #sourcing #marketing #industrialization #Barrick

    Barrick Moves Closer to Resolving Acacia Dispute

    Barrick Moves Closer to Resolving Acacia Dispute

    bloomberg.com

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