18:40:51 EDT Wed 24 Apr 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,167,158,762
Close 2018-10-22 C$ 17.17
Market Cap C$ 20,040,115,944
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Globe says Barrick's Acacia sees Tanzania turn up heat

2018-10-22 08:51 ET - In the News

The Globe and Mail reports in its Saturday edition that Barrick's subsidiary in Africa is seeking to open a second negotiating channel to bypass Barrick's own talks with the government of Tanzania. The Globe's Geoffrey York writes that Peter Geleta, interim chief executive officer of Acacia Mining, said on Friday that he is "deeply concerned about the increasing risks to the safety and security of our people" and the "increasingly challenging operating environment in Tanzania." His statement underscores the urgency for Acacia, which says it has been excluded from negotiations that parent Barrick is holding with the Tanzanian government. Tanzania's anti-corruption bureau on Wednesday filed 39 corruption charges against a senior Acacia executive, a former vice-president of the company and three of the company's subsidiaries. The charges include tax evasion, forgery, conspiracy and money laundering. The criminal charges this week are "significant escalations" of the government's dispute with the mining company, Mr. Geleta said in a statement Friday. The deputy head of Tanzania's anti-corruption bureau told a Tanzanian newspaper on Wednesday that the government is engaged in a "war" in the mineral resources sector.

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