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Barrick-Brokered Tanzania Pact Leaves Acacia in the Dark

  • Acacia to pay $300 million, split benefits with state: Barrick
  • London-based miner says it’s ‘seeking clarification’
Molten gold cools as it runs from a furnace into bar molds during casting at the Kibali gold mine in the Democratic Republic of Congo.
Photographer: Simon Dawson/Bloomberg
Updated on

Acacia Mining Plc’s tumultuous year doesn’t seem likely to ease up any time soon.

The gold miner’s shares surged as much as 41 percent Thursday, after controlling shareholder Barrick Gold Corp. said it moved closer to resolving a crippling dispute with Tanzanian authorities. Yet it seems Acacia itself -- which must approve any deals Barrick negotiates with the government -- was left out of the loop.