Loading ...Barrick Gold agreed to pay $300m to the Tanzanian government to end a long-running dispute that it says destroyed the value of its subsidiary Acacia Mining’s assets.
As part of the deal, which must still be approved by Tanzania’s attorney-general, the government will be given a 16% stake in a renamed company known as Twiga Minerals, Barrick said on Sunday. The payments are to settle all outstanding tax and other disputes. The agreement means a ban on export of concentrates will be lifted, Barrick said.