Barrick Comments on Proposed Framework for Acacia Mining plc Operations in Tanzania PDF | All amounts expressed in U.S. dollars
TORONTO, October 19, 2017 —Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick”) would like to provide the following details concerning the proposal for a new, 21st century partnership with the Government of Tanzania.
Key terms of the proposal announced earlier today are as follows:
A new Tanzanian operating company will be created to manage Bulyanhulu, Buzwagi and North Mara, and all future operations in the country. The principle of total transparency between partners will define how this company operates. For instance, the Government of Tanzania will participate in decisions related to operations, investment, planning, procurement, and marketing. This company will maximize employment of Tanzanians, building local capacity at all levels of the business, from board membership to operations. It will also increase procurement of goods and services within Tanzania. Barrick has also committed to work with the Government of Tanzania to advance concepts for increasing in-country beneficiation of gold. Economic benefits from Bulyanhulu, Buzwagi, and North Mara would be distributed on a 50/50 basis between the new operating company and the Government of Tanzania. The Government’s share of economic benefits would be delivered in the form of royalties, taxes, and a 16 percent free carry interest in the Tanzanian operations. In support of the working group’s ongoing efforts to resolve outstanding tax claims, Acacia will make a payment of $300 million to the Government of Tanzania, on terms to be settled by the working group. Barrick and the Government of Tanzania are also reviewing conditions for the lifting of the country’s concentrate export ban. The proposal is subject to review and approval by the Independent Committee of Acacia’s Board of Directors, and Acacia shareholders. Barrick holds a 63.9 percent equity interest in Acacia, a publicly traded company listed on the London Stock Exchange that is operated independently of Barrick.
INVESTOR CONTACT Daniel Oh Senior Vice President Investor Engagement and Governance Telephone: +1 416 307-7474 Email: doh@barrick.com
MEDIA CONTACT Andy Lloyd Senior Vice President Communications Telephone: +1 416 307-7414 Email: alloyd@barrick.com
Munk Foundation donates $100M for cardiovascular centre bearing gold baron’s name Sep 19, 2017 The Canadian Press 0
TORONTO _ The Peter and Melanie Munk Charitable Foundation has donated another $100 million to the Toronto cardiac centre bearing the Barrick Gold founder’s name _ the largest single charitable contribution ever to a Canadian hospital.
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