Acacia and Barrick Gold successfully reach acquisition Agreement

Published: Jul 22, 2019 13:48 (GMT+8)

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On Friday, gold miners Acacia Mining and Barrick Gold (Barrick Gold) finally ended a two-month takeover dispute and announced a successful deal. And Acacia said the agreement would help Barrick Gold reach a settlement with the government of Tanzania, bringing the company's operating environment back to normal.

SMM7 22 month news: on Friday, gold miner Acacia Mining and Barrick gold (Barrick Gold) finally ended the two-month acquisition dispute, announced a successful acquisition agreement.

And Acacia said the agreement would help Barrick Gold reach a settlement with the government of Tanzania, bringing the company's operating environment back to normal.

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. The tax bill was later reduced to $300 million.

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.

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