SMM7 10-month: Acacia Mining Company said that the value of the company is much higher than the acquisition price proposed by Barrick Gold (Barrick Gold). This suggests that the African gold miner's long-running dispute with its largest shareholder continues.
Acacia also said in a statement on Tuesday that Barrick had asked for a postponement of the acquisition date until July 19.
The extension, which Barrick has already approved for three weeks, will prolong the controversial takeover battle.
Acacia has been engaged in a public struggle with the government of Tanzania since 2017, when Tanzania imposed an export ban on Acacia and imposed a $190 billion tax bill on companies, mainly because the company lied about the amount of gold it sold overseas.
Since then, the relationship between Acacia and Barrick Gold has also become increasingly tense.
At present, the gold mining industry is currently rapidly integrating, Barrick Gold is also frequent.
Barrick Gold's (Barrick Gold) is looking for buyers for its Massawa gold project in Senegal, which is worth about $500m.
It bought Randgold, for $5.4 billion in January but also abandoned plans to buy Newmont Mining for $18 billion.