Barrick Offers to Acquire Rest of Acacia at a Discount to Address Ongoing Dispute With Tanzania
On May 22, Barrick Gold offered to acquire the rest of Acacia that it does not already own in order to resolve the ongoing dispute with the Tanzanian government. All three of Acacia’s operating gold mines are in Tanzania, where the government first accused the company of evading taxes in 2016. Barrick currently owns 63.9% of Acacia, and as such, has led the talks with the Tanzanian government for the last couple of years. Acacia management has been continually excluded from the negotiations, as ...Barrick Gold is engaged in the production and sale of gold, as well as related activities such as exploration and mine development. Co. also produces copper and hold interests in oil and gas properties located in Canada. Co.'s mining operations are concentrated in three regional business units: North America, South America and Australia Pacific. Co. also hold a 73.9% equity interest in African Barrick Gold plc that owns gold mines and exploration properties in Africa. Co.'s copper business unit contains producing copper mines located in Chile and Zambia; and a mine under construction located in Saudi Arabia.
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