New Barrick CEO eyes miners' alliance to fix Tanzania tax row

President John Magufuli. Tanzania’s mining industry is facing a “desperate” tax dispute. [Photo: Courtesy]

LONDON/TORONTO - Barrick Gold’s incoming chief executive said he wants to pull together Tanzania’s mining industry to tackle a “desperate” tax dispute that has snared several companies, including the firm’s Acacia Mining unit.

In an increasingly acrimonious conflict that has lasted almost two years, the government has torn up mining contracts, hiked taxes and royalties, and banned raw minerals exports.