Barrick Gold reaches deal with Tanzania to settle disputes over Acacia Mining

Barrick Gold Corp said it had reached a deal to settle a long-running tax dispute between Tanzania and mining group Acacia, which Barrick bought in a $1.2 billion deal approved by a British court last month. The agreement includes the payment of $300 million to settle outstanding tax and other disputes, the lifting of a concentrate export ban, and the sharing of future economic benefits from mines on a 50-50 basis, Barrick said in a statement on Sunday. An Africa-focused international dispute resolution framework will also be established as part of the agreement, Barrick said.