Tanzania tax row: Acacia Mining hits back at parent company Barrick
Subsidiary argues it was in constructive dialogue with the east African country’s government over a tax dispute before Barrick butted in
London — Acacia Mining has hit back at parent company Barrick Gold’s allegation that the miner was an obstacle to solving a long-running tax row in Tanzania. Barrick CEO Mark Bristow said in a results presentation on Wednesday that Acacia was not cooperating, prompting Acacia to demand clarification from Barrick. Acacia’s interim CEO Peter Geleta said in an interview that Acacia was “totally committed to achieving a negotiated solution” and laid out what he said was a series of facts. Acacia had already been in discussion with the Tanzanian government in June 2017 when Barrick intervened without Acacia inviting it, he said. “Barrick’s intervention at such an early stage of the dispute when Acacia was talking to the government of Tanzania undermined Acacia’s status, put both Acacia and Barrick into a difficult position and added a level of complexity that was unhelpful to an expedient resolution to the dispute. These are the facts and one cannot deny this,” Geleta said. Acacia has ...
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