08:25:40 EDT Fri 29 Mar 2024
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,778,044,807
Close 2020-06-17 C$ 32.90
Market Cap C$ 58,497,674,150
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Globe/wire say Barrick sees Acacia's Tanzania duo freed

2020-06-18 08:40 ET - In the News

The Globe and Mail reports in its Thursday edition that three employees of Barrick's Acacia Mining have been released from jail in Tanzania after paying 1.5 billion Tanzanian shillings (nearly $880,000) in compensation for tax evasion, a prosecutor said on Wednesday. A Reuters dispatch to The Globe says that Deodatus Mwanyika, Alex Lugendo and Assa Mwaipopo had been imprisoned since October, 2018, when Tanzanian authorities charged three of Acacia's local subsidiaries with dozens of offences including money laundering and tax evasion. The three pleaded guilty to tax evasion. All other charges were dropped, said state prosecutor Wankyo Simon. Under a plea bargain deal, they paid a total of 1.5 billion Tanzanian shillings in compensation and an additional fine of 1.5 million Tanzanian shillings each to avoid a further four months of jail time. Barrick, which bought out Acacia Mining last year, declined to comment when asked about the release, which took place on Tuesday. In May, Barrick resumed exporting gold for the first time since a ban on shipments in 2017 and paid an initial $100-million (U.S.) to settle the dispute. Three years ago the miner was accused of overstating how much gold it was exporting.

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