The Globe and Mail reports in its Friday edition that
Barrick Gold has lost key leaders at Acacia Mining, the London-based mining company that it controls, as the company continues to try and resolve a major impasse with the Tanzanian government.
A Canadian Press dispatch to The Globe says that Acacia's chief executive officer Brad Gordon and chief financial officer Andrew Wray are both stepping down by the end of the year.
The departures of the top managers come as Acacia tries to sort out a $190-billion (U.S.) tax bill from Tanzania and a ban on exporting concentrated precious metals from the East African country.
Barrick announced on Oct. 19 that it had negotiated a deal with the Tanzanian government that will see a 50:50 sharing of economic benefits from Acacia's three mines in the country, as well as a goodwill payment from Acacia of $300-million (U.S.).
Acacia, however, has said it needs further clarification on the deal, and that it does not expect to see a detailed proposal from Barrick until the first half of 2018.
The company says Peter Geleta, Acacia's head of organizational effectiveness, becomes interim CEO, while Jaco Maritz, the company's general manager of finance, becomes CFO.
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