Tanzania’s squeeze on mining firms seems to be working as it gets $300 million in back taxes

Tanzania’s government has struck a deal with Barrick Gold, following a dispute that saw the company’s African subsidiary taxed a jaw-dropping $190 billion in revised taxes, interests, and fines.

The Toronto-based company said it will pay the government $300 million as part of the deal, give the government a 16% stake in its mines, and will equally split “economic benefits” from the mining operations. Barrick owns 63.9% equity interest in Acacia Mining, a London-listed company that is...

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