Acacia Officials Said to Be Interrogated by Tanzanian Agents
- Acacia says employees interviewed by government agencies
- Tanzania plans to renegotiate mining agreements in the country
Acacia is in the midst of a dispute with Tanzanian President John Magufuli, pictured, who has accused the company of failing to pay billions of dollars of taxes.
Photographer: Daniel Hayduk/AFP via Getty ImagesAt least two senior employees at Acacia Mining Plc have been detained for questioning by Tanzanian authorities over the past week, escalating a dispute between the company and the state.
Tanzanian President John Magufuli has accused Acacia of failing to pay billions of dollars of taxes. In March, the state banned exports of unprocessed gold and copper, a move Acacia later said has been costing it $1 million a day in lost revenue. Earlier this month, Tanzania’s government approved laws that would enable the state to renegotiate contracts with mining and energy companies. The company’s shares tumbled in London on Friday.