The Globe and Mail reports in its Saturday edition that Barrick Gold's offer to buy the rest of Acacia Mining for $787-million (U.S.) is fair because the Canadian company is taking on more risk by increasing its exposure to Tanzania, its chief executive officer said Friday. A Reuters dispatch to The Globe says that Barrick, which owns 63.9 per cent of London-listed Acacia, proposed on Tuesday to buy out the minority shareholders as part of efforts to resolve a 2017 tax dispute with the Tanzanian government. However, its offer, which was not a firm intention, represents a near 11-per-cent discount to Acacia's closing share price on Tuesday and is 42 per cent below Barrick's own audited valuation of Acacia's assets. Barrick clinched a framework deal with Tanzania on the tax issue in 2017 that required Acacia to pay $300-million (U.S.), hand over a 16-per-cent share of its three gold mines and split the economic benefits from its operations. Shareholders and analysts have said that Barrick's offer was too low, but also said that the Tanzanian government's stance limited Acacia's options. One Acacia shareholder told Reuters that he was sceptical that Barrick had not made a firm offer but only an indicative one.