Press Release - The Launch of Twiga Minerals Heralds Partnership Between Tanzanian Government and Barrick - 20 October 2019
Country
Year
2019
Summary
Dar es Salaam, Tanzania - October 20, 2019 - The government of Tanzania and Barrick Gold Corporation have reached an agreement to settle all disputes between the GoT and the mining companies formerly operated by Acacia but now managed by Barrick. The final agreements have been submitted to the Tanzanian Attorney General for review and legalization.
The terms of the agreement include the payment of $300 million to settle all outstanding tax and other disputes; the lifting of the concentrate export ban; the sharing of future economic benefits from the mines on a 50/50 basis; and the establishment of a unique, Africa-focused international dispute resolution framework.
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