Barrick Strikes $300 Million Deal With Tanzania in Acacia Fight
- Acacia shares jumped as much as 41 percent after announcement
- Miner also to split ‘economic benefits’ of Tanzania operations
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It took a day, but Barrick Gold Corp.’s tentative deal with Tanzania’s government to end a tax dispute at its African subsidiary is becoming clearer.
In a press conference and two statements, the world’s largest gold producer revealed that Acacia Mining Plc would pay Tanzania’s government $300 million and divide the future “economic benefits” of its mining operations in the African nation.