Barrick settles tax dispute with Tanzania
A worker standing in the Bulyanhulu mine, one of three mines operated by Barrick (Credit: http://www.acaciamining.com/media/image-gallery/image-hub/buly-image02.aspx?category=bulyanhulu&item_number=2)
Canadian mining company Barrick Gold has agreed to pay US$300 million and accept new concession terms to settle a dispute between its UK subsidiary and Tanzania which had led to two UNCITRAL arbitrations, the threat of an investment treaty claim and criminal proceedings.
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