Bristow says Tanzania had “legitimate beef” with “irresponsible” subsidiary, Acacia

Mbase1970

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Jun 11, 2015
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John Magufuli, president, Tanzania

TANZANIA “had a legitimate beef” in its dispute with Barrick Gold subsidiary Acacia Mining and the solution now reached “… would make Africa a very different place in ten years time if this formula could be migrated across Africa”.

That’s the view of Barrick CEO, Mark Bristow, who declared himself satisfied with the settlement and rejected the allegation that his group had given away too much to reach the agreement which included the payment of $300m to settle tax claims by the Tanzanian government.
“I would like to believe this is a foundation on which to go forward in Africa generally because it really does recognise the importance of partnership.

“Let’s set aside the $300m fine. That’s for past whatever and the Tanzanian government never threatened nationalisation. What it was after was a fair deal and John’s (Barrick chairman, John Thornton) involvement back in 2017 very clearly captured that.

“Fundamentally, Acacia was an irresponsibly-run business and it was not properly managed. It was a small company with a head office in London and another head office in South Africa. Management was through ex-patriates living in Dar es Salaam and Arusha and not even on the mine sites.

“A true measure of partners is 50/50 after the recoupment of capital expenditure although this can be a few per cent either side. The beef in Tanzania was that these mines had been run since the 1990’s but they had not paid tax. That’s tantamount to 100% the other way (from nationalisation). Everybody is getting the benefit except the host country treasury.”
Bristow added that: “This is now a true partnership in that when you win, you win together and when you lose, you both lose. This effectively splits the pie as a national asset and one thing a gold company will never lie about is the gold it produces so you can see the revenue. “

Bristow also emphasised the benefits of having Tanzanian government representatives sitting on the boards of mining companies where they could see for themselves exactly what was going on.

“One thing that gave Acacia management an allergic reaction was this concept of a joint management company, but that’s the premise of our investments. Mali is 20% shareholder (in our mines in Mali) and sits on our boards. It’s the same in Ivory Coast and the same in the Democratic Republic of Congo.

“So that is what Twiga (the new JV set up with the Tanzanian government) is. They have the authority to call us to account.

“Previously they have never had the right to see the budget. Now they have the right, for example, to seek the background on a capital request. That’s a legitimate request from a board member to which we say – ‘sure’.”

Asked about the measures taken by the Tanzanian government against the former Acacia – including demanding $190bn for unpaid taxes plus penalties and interest – Bristow replied: “That’s a measure of the desperation felt. Tanzania is a country that is resource reliant. It felt exploited as do most African countries for different reasons.”

Source
https://www.miningmx.com/
 

JokaKuu

Platinum Member
Jul 31, 2006
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..haya mambo mbona Tundu Lissu alishayasema tangu miaka ya 90.

..tena serikali ya Mkapa walimfungulia kesi kwasababu tu alikuwa akiendesha harakati kupinga unyonyaji wa accacia.

..kitu kimoja ambacho Barrick wamefanikiwa , tena kwa msaada wa VIONGOZI wetu, ni kutulaghai waTz kwamba wao[ Barrick] ni tofauti na Accacia au hawahusiki na wizi waliokuwa wakifanya Accacia.
 

Mmawia

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Aug 20, 2013
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Watu mnaweza kukopi na kupest
John Magufuli, president, Tanzania

TANZANIA “had a legitimate beef” in its dispute with Barrick Gold subsidiary Acacia Mining and the solution now reached “… would make Africa a very different place in ten years time if this formula could be migrated across Africa”.
That’s the view of Barrick CEO, Mark Bristow, who declared himself satisfied with the settlement and rejected the allegation that his group had given away too much to reach the agreement which included the payment of $300m to settle tax claims by the Tanzanian government.
“I would like to believe this is a foundation on which to go forward in Africa generally because it really does recognise the importance of partnership.

“Let’s set aside the $300m fine. That’s for past whatever and the Tanzanian government never threatened nationalisation. What it was after was a fair deal and John’s (Barrick chairman, John Thornton) involvement back in 2017 very clearly captured that.
“Fundamentally, Acacia was an irresponsibly-run business and it was not properly managed. It was a small company with a head office in London and another head office in South Africa. Management was through ex-patriates living in Dar es Salaam and Arusha and not even on the mine sites.
“A true measure of partners is 50/50 after the recoupment of capital expenditure although this can be a few per cent either side. The beef in Tanzania was that these mines had been run since the 1990’s but they had not paid tax. That’s tantamount to 100% the other way (from nationalisation). Everybody is getting the benefit except the host country treasury.”
Bristow added that: “This is now a true partnership in that when you win, you win together and when you lose, you both lose. This effectively splits the pie as a national asset and one thing a gold company will never lie about is the gold it produces so you can see the revenue. “
Bristow also emphasised the benefits of having Tanzanian government representatives sitting on the boards of mining companies where they could see for themselves exactly what was going on.
“One thing that gave Acacia management an allergic reaction was this concept of a joint management company, but that’s the premise of our investments. Mali is 20% shareholder (in our mines in Mali) and sits on our boards. It’s the same in Ivory Coast and the same in the Democratic Republic of Congo.
“So that is what Twiga (the new JV set up with the Tanzanian government) is. They have the authority to call us to account.
“Previously they have never had the right to see the budget. Now they have the right, for example, to seek the background on a capital request. That’s a legitimate request from a board member to which we say – ‘sure’.”
Asked about the measures taken by the Tanzanian government against the former Acacia – including demanding $190bn for unpaid taxes plus penalties and interest – Bristow replied: “That’s a measure of the desperation felt. Tanzania is a country that is resource reliant. It felt exploited as do most African countries for different reasons.”

Source
https://www.miningmx.com/
Sent using Jamii Forums mobile app
 

Titicomb

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Jan 27, 2012
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Habari nzuri sana hii.
Inatuma ujumbe mkubwa kwa wakosoaji wa serikali kuhusu sakata la makinikia.
 

JokaKuu

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Jul 31, 2006
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Habari nzuri sana hii.
Inatuma ujumbe mkubwa kwa wakosoaji wa serikali kuhusu sakata la makinikia.
..ujumbe mzuri pia kwa ccm ambao walikuwa watetezi wa barrick / accacia tangu waingie nchini.

..na bosi wa barrick anasema tulikuwa na " legitimate beef". Sasa mbona tulichopata ni kiduchu?

..kwanini usd 300 million na siyo usd 191 billion tulizokuwa tunadai? Na Mruma, Ossoro, Luoga, wote walikuwepo kwenye tume ya majadiliano.
 

Titicomb

JF-Expert Member
Jan 27, 2012
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Kuna jamaa kaniita C&P as if sijaweka source.
Ukiona hivyo amekosa kitu cha kukosoa au cha kupinga.
Umeweka source sijui alitaka ubadili kwa kiswahili aelewe?

Huenda lugha imemtatiza. Sijaona sababu ya kuanza kuweka tafsiri zako wakati unaweza kuleta original article.
Kuepuka makelele kwamba hawajasema hivyo, mara matusi CCM hawajui kiingereza n.k.

Siku hizi hapa JF tunapoteza Focus kwenye mijadala inabaki kushambuliana kwa matusi na kejeli kisha mjadala unageuka kuwa wa kujadili petty issues.
 

JokaKuu

Platinum Member
Jul 31, 2006
18,657
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Ukiona hivyo amekosa kitu cha kukosoa au cha kupinga.
Umeweka source sijui alitaka ubadili kwa kiswahili aelewe?

Huenda lugha imemtatiza. Sijaona sababu ya kuanza kuweka tafsiri zako wakati unaweza kuleta original article.
Kuepuka makelele kwamba hawajasema hivyo, mara matusi CCM hawajui kiingereza n.k.

Siku hizi hapa JF tunapoteza Focus kwenye mijadala inabaki kushambuliana kwa matusi na kejeli kisha mjadala unageuka kuwa wa kujadili petty issues.
..makada wa ccm hapa JF ndiyo waliosababisha hali hiyo.
 

Mbase1970

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Jun 11, 2015
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Ukiona hivyo amekosa kitu cha kukosoa au cha kupinga.
Umeweka source sijui alitaka ubadili kwa kiswahili aelewe?

Huenda lugha imemtatiza. Sijaona sababu ya kuanza kuweka tafsiri zako wakati unaweza kuleta original article.
Kuepuka makelele kwamba hawajasema hivyo, mara matusi CCM hawajui kiingereza n.k.

Siku hizi hapa JF tunapoteza Focus kwenye mijadala inabaki kushambuliana kwa matusi na kejeli kisha mjadala unageuka kuwa wa kujadili petty issues.
Hili jamvi lilikua linajadili issues huko nyuma. Watu hawakujikita kwenye vyama hata kama wslikuwepo busara zilitumika. Kulikua na wakati unaingia humu ukisoma comment za watu kama kina Sophist unatoka na mawili matatu lakini sasa tunajadili vijembe zaidi za issues zinazokabili jamii. Ndiyo maana tuna wanasiasa mabomu maana tunaunga mkono ubovu wao
 

Titicomb

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Jan 27, 2012
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Kuna jamaa kaniita C&P as if sijaweka source.
Kuna mbinu imeibuka karibuni ya watu kuanza kukutukana makusudi au kukutweza utu wako lengo likiwa uchukie usiweke tena vitu wasivyo penda watu wengi wasome.

Kuna wengine unaona kabisa huyu amesumbuliwa na wivu anahisi nitapata hadhi flani kubwa sana kutokana na hoja zangu, au nitawafaidisha sana hasimu wake kiitikadi na yeye hawezi kujenga hoja kama wewe inabidi aku-discourage usiendelee ku-post vitu hapa JamiiForums.

Wengine wanao fanya hivyo zamani walikuwa na heshima na wajenga hoja wazuri, I don't know what has gotten into them kiasi kwamba wamejishusha na kuwa watu wa matusi.
Huenda ni msongo wa mawazo, maana tuwe wakweli hali sio nzuri mifukoni mwa watu wengi awamu hii. Inabidi serikali ifanye jambo kabla hatujawa taifa la vichaa wanao tokana na ugumu wa maisha.
 

BUSH BIN LADEN

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Mar 16, 2019
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Taarifa nzuri japo haya mambo ya mikataba kwa Africa naona kama bado hamna kipindi tutapata mkataba mzuri kwa miaka yote. Mfano babu zetu walisainishwa mikataba ya madini ni ardhi ambayo baada ya uhuru tukaiona ya ajabu na kinyonyaji. Kikaja kipindi cha migodi ya madini(acacia), gesi(mchina), usafirishaji na uchukuzi(bandari ya Bagamoyo, TRL vs TRC, SAA vs ATC) ambayo leo tunaiona ya kiboya nina wasiwasi hata hii mikataba tunayosign leo na kuona ni mizuri huenda baadae itaonekana ya kiboya as long as itaendelea kuwahusisha watu weupe dhidi yetu
 

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