New Barrick eyes several options to end Tanzania tax dispute -CEO [Reuters]
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Source: Reuters
New Barrick eyes several options to end Tanzania tax dispute: CEO TORONTO (Reuters) - The new Barrick Gold Corp is considering options for its stake in Acacia Mining PLC including possible sale, as Barrick works to end a nearly two-year-long tax dispute in Tanzania that has effectively shuttered operations there, Chief Executive Officer Mark Bristow said on Wednesday. The new Barrick, which began trading on Wednesday following its merger with Randgold Resources, holds a 64 percent stake in Acacia, which has not been able to export gold during the tax row. Bristow expressed confidence that the conflict, which began when the Tanzanian government slapped Acacia with a $190 billion tax bill in March 2017, would be resolved. “This has been a very complex and challenging situation where no one has won. It’s untenable and will be resolved,” said Bristow, who previously led Randgold. Under an October 2017 framework pact that has yet to be implemented, Barrick Executive Chairman John Thornton
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