Barrick Gold To pay $300 Million In Settlement Of Tax Dispute In Tanzania

Barrick Gold Corp on October 20, 2019 announced it will pay the government of Tanzania $300 million in settlement of, among others, a tax dispute involving its former subsidiary Acacia Mining. That was reported by various media on October 21, 2019.

Barrick Gold will also offer the government of Tanzania a 16% stake in its new mining company called Twiga Minerals Corp. The latter takes over the operations of the now dissolved Acacia Mining.

Whether Tanzania will accept Barrick Gold Corp's offer is not confirmed yet.

In 2017 the government of Tanzania handed Acacia Mining a staggering $190 billion bill in tax arrears and interest.

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