DAR ES SALAAM — Barrick Gold has agreed that Tanzania will own a 16 percent stake in three gold mines operated by Barrick's Acacia Mining Plc, the company and a government minister announced on Thursday.
Barrick Chairman John Thornton told a news conference in the Tanzanian capital that the company had also agreed to pay Tanzania $300 million (£227.6 million) as a show of good faith.
The company and the government have been in talks for months aimed at resolving a dispute over an export ban which has hit Acacia Mining.
KNL Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
