Canada's Barrick Gold Corp signed a deal with Tanzania on Friday in which t...
) signed a deal with Tanzania on Friday in which the government will take stakes in three gold mines, ending a long-running tax dispute and setting a template for negotiations with other firms.
It follows an announcement by the two sides in October in which they agreed to a payment of $300 million to settle outstanding tax and other disputes, the lifting of an export ban on concentrates and the sharing of future economic benefits from mines. The company said it had budgeted $50 million for brown and greenfield exploration in Tanzania in 2020.
“Twiga Minerals represents a structure which allows the government and the people of Tanzania to be involved in the decision-making of everything that we do together,” Bristow said.
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