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Barrick Gold Corp
Symbol ABX
Shares Issued 1,167,158,762
Close 2018-10-17 C$ 16.54
Market Cap C$ 19,304,805,923
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Globe says Tanzania arrests execs at Barrick's Acacia

2018-10-18 07:44 ET - In the News

The Globe and Mail reports in its Thursday edition that Tanzanian authorities have arrested a senior executive and filed dozens of criminal charges at the African subsidiary of Barrick Gold, intensifying a corruption investigation that has cast a shadow over Barrick's planned merger with African-focused Randgold Resources. The Globe's Geoffrey York writes that the latest arrest is part of an investigation in which 39 charges have been filed against company subsidiaries, employees and former employees for tax evasion, corruption, forgery, conspiracy and money-laundering at Acacia Mining PLC. The charges date back as far as 2008 and "appear to relate to the historical structuring and financing" of the mines that eventually formed part of Acacia, the company said. In the latest action in a wave of detentions, Tanzania's anti-corruption bureau has arrested Alex Lugendo, chief adviser on government relations at Acacia, along with Acacia's former vice-president of corporate affairs, Deo Mwanyika. The two men remain in detention because the money-laundering charges do not permit bail under Tanzanian law. Last week, Acacia's commercial manager, Maarten van der Walt, was arrested and charged with a corruption offence.

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