Tanzania and Barrick Gold to sign agreement – Presidency

Tanzania said on Friday it was due to sign an agreement with Canadian miner Barrick Gold, which could end a long-running and costly tax dispute.

"President Magufuli will witness the signing of an agreement between the government of Tanzania and the mining company Barrick. The event will take place today," Gerson Msigwa, spokesman for the President, said in a tweet.

The Tanzania dispute was a big headache for Acacia Mining, which was bought out by Barrick last year in a $1.2-billion transaction. The government’s ban on the export of mineral concentrates in 2017, after accusing Acacia of tax evasion, led to a one-third cut in the miner’s output.