16:22:35 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,752,668,983
Close 2019-08-12 C$ 23.80
Market Cap C$ 41,713,521,795
Recent Sedar Documents

Globe says Barrick keen to get Acacia issues sorted out

2019-08-13 09:03 ET - In the News

The Globe and Mail reports in its Tuesday edition that Barrick chief executive officer Mark Bristow said Monday that there is still a "great deal of work to be done" to rebuild relations in Tanzania, as Barrick tries to get a handle on Acacia Mining's operations. The Globe's Niall McGee writes that Barrick is also working to implement the terms of a previously announced tentative agreement to end the tax dispute. It plans to pay a $300-million fine to Tanzania and has agreed to a profit-sharing plan with the Tanzanian government. For now, though, Acacia's operations remain mostly idled. Acacia announced Monday that Tanzania has allowed it to resume gold shipments from its North Mara mine, but actual mining remains on hold after the site's tailings dam was shut down in July following allegations of environmental breaches. Last month, Barrick reached an agreement to acquire the 36.1 per cent of Acacia that it does not already own for $428-million, paving the way for an end to a geopolitical spat that had engulfed the London-based miner for more than two years (all figures U.S.). In 2017, the Tanzanian government accused Acacia of $200-billion in tax fraud and banned it from exporting gold concentrate.

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