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Barrick Gold and Tanzania reach agreement, government to take stake in mines

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Barrick Gold and Tanzania reach agreement, government to take stake in mines

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DAR ES SALAAM (Reuters) – Barrick Gold has agreed that Tanzania will own a 16 percent stake in three gold mines operated by Barrick’s Acacia Mining Plc <ACAA.L>, the company and a government minister announced on Thursday. Barrick Chairman John Thornton told a news conference in the Tanzanian capital that the company had also agreed to pay Tanzania $300 million (£227.6 million) as a show of good faith. The company and the government have been in talks for months aimed at resolving a dispute over an export ban which has hit Acacia Mining.

(Reporting by Fumbuka Ng’wanakilala; writing by Maggie Fick; editing by Jason Neely)
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