Barrick Gold attempts to resolve Acacia Mining dispute with Tanzania

Writer, Stock Market Wire
Wednesday, February 20, 2019 - 13:18

Acacia Mining noted that its majority shareholder Barrick Gold Corporation had announced that it was attempting to settle a dispute with the Tanzanian government.

Barrick, which operates in the African nation through its holding in Acacia, said the proposal involved economic benefits being shared equally between Acacia and the government.

It also involved a $300m payment to the government to resolve outstanding tax claims.

'Any proposal received by Acacia will be subject to review by the independent committee of the Acacia board of directors,' Acacia said.

Barrick said it expected to put the proposal to Acacia's board in the near future.

At 1:18pm: (LON:ACA) Acacia Mining Plc share price was +8.55p at 233.55p

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