New Barrick set to end Tanzania tax dispute -CEO

Tanzanian President John Magufuli and Barrick Executive Chairman John Thornton agreed that Acacia would pay the government $300 million (Sh30.6 billion) and 16 percent ownership. [Photo: Courtesy]

TORONTO- The new Barrick Gold Corp is considering options for its stake in Acacia Mining PLC including possible sale, as Barrick works to end a nearly two-year-long tax dispute in Tanzania that has effectively shuttered operations there, Chief Executive Officer Mark Bristow said on Wednesday.

The new Barrick, which began trading on Wednesday following its merger with Randgold Resources, holds a 64 percent stake in Acacia, which has not been able to export gold during the tax row.