Acacia shifts blame to Barrick Gold for Tanzanian tax standoff [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
Acacia shifts blame to Barrick Gold for Tanzanian tax standoff The head of Acacia Mining Plc is taking issue with comments made by the new chief executive officer of its parent company, Barrick Gold Corp. On Wednesday, Barrick’s Mark Bristow expressed his frustration over the failure to resolve a serious tax dispute between the Tanzanian government and Acacia. “We are finding it difficult to get the Tanzanians and the Acacia board together,” Bristow said in an interview. “What we’re dealing with is a complete breakdown of relationships.” But Acacia CEO Peter Geleta pushed back against the suggestion his company is responsible for the apparent standoff. “Sadly, blaming Acacia for that is totally unacceptable,” he said by phone Thursday. “It’s mesmerizing. Because we haven’t been involved.” In 2017, Tanzania banned the export of unprocessed metals by miners, subsequently presenting London-based Acacia with a US$190 billion tax bill, equivalent to two centuries of revenue. Acacia was alr
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