Tanzania tax row: Acacia Mining hits back at parent company Barrick

Subsidiary argues it was in constructive dialogue with the east African country’s government over a tax dispute before Barrick butted inA bulldozer moves rubble at a mine in Tanzania. Picture: BLOOMBERG/TREVOR SNAPP

Acacia’s interim CEO Peter Geleta said in an interview that Acacia was “totally committed to achieving a negotiated solution” and laid out what he said was a series of facts. Acacia has been excluded from the negotiations since Barrick’s intervention, but Geleta said the company was engaging constructively with local, regional and national governments and had turned around “a failing business” in Tanzania.

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Business Maverick: Barrick CEO Expects to Raise $1.5 Billion Through Asset SalesBarrick Gold Corp., which completed its acquisition of Randgold Resources Ltd. at the beginning of the year, has identified $1.5 billion in assets the miner intends to sell, Chief Executive Officer Mark Bristow said.
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