Barrick's transformation continues as it increases free cash flow and reduces leverage.
In the latest in an ongoing conflict with the Government of Tanzania, 63.9% Barrick-owned and independently operated miner Acacia received a whopping $190 billion tax assessment. This consists of $40 billion of purported unpaid taxes and a massive $150 billion of penalties and interest owed. We currently believe it’s unlikely that this immense amount is the end to the dispute but likely a negotiation tactic by the government as it continues to squeeze for more economics from the miner.Though Ac...
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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