Tanzania Says Acacia Mining Won't Be Allowed Role in Country

BAK

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Feb 11, 2007
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Tanzania Says Acacia Mining Won't Be Allowed Role in Country
By
Kenneth Karuri
and
Danielle Bochove
May 28, 2019, 10:29 AM EDTUpdated on May 29, 2019, 3:03 AM EDT
  • ‘Ball is now in Barrick’s court,’ government spokesman says
  • Barrick-Tanzania talks still guided by 2017 framework: Abbasi
Tanzania will no longer allow Acacia Mining Plc to manage its mines in the country and will only work with the company’s parent, Barrick Gold Corp., to resolve the two-year impasse that has stymied operations, a government spokesman said.
“We will no longer work with Acacia,” Hassan Abbasi said Tuesday by phone. “Under no circumstances can Acacia be a party to the agreements, or have any role in the operation or management of the Barrick mining subsidiaries in Tanzania. The ball is now in Barrick’s court.”

Acacia has been at odds with Tanzania’s government since July 2017, when the state handed the London-listed gold producer a $190 billion tax bill, saying it under-declared bullion exports. Barrick has since led discussions with the government and, in an effort to solve the impasse, surprised the market last week with an informal plan to buy out Acacia’s minority shareholders.
In response to Toronto-based Barrick’s buyout proposal, Acacia advised its shareholders last week not to take action as it considers developments and tries to verify Tanzania’s position. On Tuesday, a spokesman for Acacia had no comment other than to reiterate that the company is continuing to seek clarification from the government.
2017 Framework
Abbasi said the government of Tanzania will continue to try to resolve the dispute based on a previous tentative agreement with Barrick.

“The initial agreement that we reached with Barrick in October 2017 is the one that is guiding the negotiations,” Abbasi said.
In a 2017 meeting between President John Magufuli and Barrick Executive Chairman John Thornton, it was tentatively agreed that Acacia would pay $300 million to the government to settle tax claims and would split future returns from operations with the country. At the time, Acacia criticized the move and blamed Barrick for its worsening relationship with Tanzania after Thornton took over negotiations.
Last week, Barrick said the government of Tanzania had made clear it won’t negotiate a settlement with Acacia. Barrick Chief Executive Officer Mark Bristow has repeatedly spoken about the breakdown of the relationship between the two companies, and between Acacia and the government.

A Barrick spokeswoman said Tuesday it had no additional comment.
Magufuli has vowed to secure more revenue from the country’s resources. His government is targeting boosting income from minerals by half in the 2019-20 fiscal year to 470.9 billion shillings ($205.1 million), according to the Mines Ministry.
“Barrick and Acacia have to sort out their differences so that we can move forward and resolve the dispute,” Abbasi said.
 

BAK

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Feb 11, 2007
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Huyo nduli na dikteta wa Ikulu AKIKURUPUKA na kuufuta mkataba kinyemela imekula kwetu. Nilisoma hapa jamvini kwamba kabla ya mwisho wa mwezi huu ACACIA watafungua kesi ya madai ya $1.3 billion majuu.
 

kajekudya

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Sep 24, 2015
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Ha ha ha, naona umeleta habari, halafu umecomment mwenyewe. Bro mambo mengine acha yapite mwishowe utakufa kwa pressure ya mambo ambayo hata hayana maslahi kwa wanaokutegemea.

Just concerntrate on what you do, hayo mengine waachie walioamua hiyo iwe kazi yao na wanaendesha maisha kwa kazi hiyo unless you are one of them.
 

mbingunikwetu

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Feb 17, 2015
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Huyo nduli na dikteta wa Ikulu AKIKURUPUKA na kuufuta mkataba kinyemela imekula kwetu. Nilisoma hapa jamvini kwamba kabla ya mwisho wa mwezi huu ACACIA watafungua kesi ya madai ya $1.3 billion majuu.
Watadaije fedha kubwa kiasi hicho wakati mtaji waliowekeza haufiki kiasi hicho na wamekuwa wakidai hawajawahi kupata faida ndio maana hawakuwa wakilipa kodi itokanayo na faida.
 

BAK

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Feb 11, 2007
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Mambo ya kisheria hayako hivyo unavyodhani wewe. Kwani yule tapeli wa Richmond/Dowans aliwekeza nchini $100 millions pesa ambayo alilipwa!? Jibu ni kwamba hakuwekeza hata senti moja.

Watadaije fedha kubwa kiasi hicho wakati mtaji waliowekeza haufiki kiasi hicho na wamekuwa wakidai hawajawahi kupata faida ndio maana hawakuwa wakilipa kodi itokanayo na faida.
 

french

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Aug 2, 2017
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Huyo nduli na dikteta wa Ikulu AKIKURUPUKA na kuufuta mkataba kinyemela imekula kwetu. Nilisoma hapa jamvini kwamba kabla ya mwisho wa mwezi huu ACACIA watafungua kesi ya madai ya $1.3 billion majuu.
Hiyo ndio kushtakuwa MIGA au tofauto
 

Erythrocyte

JF-Expert Member
Nov 6, 2012
72,949
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Ha ha ha, naona umeleta habari, halafu umecomment mwenyewe. Bro mambo mengine acha yapite mwishowe utakufa kwa pressure ya mambo ambayo hata hayana maslahi kwa wanaokutegemea.

Just concerntrate on what you do, hayo mengine waachie walioamua hiyo iwe kazi yao na wanaendesha maisha kwa kazi hiyo unless you are one of them.
Wewe ndiye ulipaswa kupita kimya kwenye jambo usilolijua
 

Paul Alex

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Jul 14, 2012
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Akili inaniambia Acacia hana ubavu wa kufungua kesi na kuishinda GoT kuhusu sakata la makinikia.

Sijui!, lolote laweza kutokea lakini.
Muda ndio utatuambia majibu.
Umekuwa ukikusanya kodi kwake na bado unaendelea kukusanya, umempelekea deni la kodi lililovunja rekodi ya dunia, halafu unakula chakula chako sijui chakula gani unasema humtambui!!!
Hawa watu wanatofauti kidogo na fisi waliohamishiwa bugiri!
 

Pakawa

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Mar 11, 2009
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Ni leo wamesema wamepata faida mara dufu au
Hahahh Barrick back in the house
Barrick & Acacia dugu moja wataendelea kuchota
Acacia bado wapo wataendelea kuwepo kwa mgongo wa Barrick
Mmeingizwa choo cha kike kwa ufupi dammit!
 

Titicomb

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Jan 27, 2012
8,210
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Umekuwa ukikusanya kodi kwake na bado unaendelea kukusanya, umempelekea deni la kodi lililovunja rekodi ya dunia, halafu unakula chakula chako sijui chakula gani unasema humtambui!!!
Hawa watu wanatofauti kidogo na fisi waliohamishiwa bugiri!
Ingekuwa rahisi kama ulivyo andika hapa tayari jamaa wangekuwa wamesha tupeleka MIGA na tumeshapigwa faini au kuwalipa fidia ya kutisha.
 

Abunwasi

JF-Expert Member
Jun 25, 2009
5,480
2,000
Huyo nduli na dikteta wa Ikulu AKIKURUPUKA na kuufuta mkataba kinyemela imekula kwetu. Nilisoma hapa jamvini kwamba kabla ya mwisho wa mwezi huu ACACIA watafungua kesi ya madai ya $1.3 billion majuu.
'Ama kweli wajinga ni waliwao'
 

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