Economics
Barrick Has Surprise Loss on Tanzania Tax
- Sales and production decline amid tax and refining dispute
- Expects work on final Tanzania accord completed 1st half 2018
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Barrick Gold Corp. reported a surprise net loss in the third quarter on a tax provision related to operations in Tanzania.
An export ban at a unit in the African nation amid a contractual dispute also dragged down production and revenue for the world’s biggest gold miner. Barrick lowered the top end of its 2017 production guidance to 5.5 million from 5.6 million ounces, it said Wednesday in a statement.