Barrick Gold Will Acquire Tanzania-Based Acacia Mining For $428M

Barrick Gold Corporation GOLD will acquire Acacia Mining plc ABGLF for $428 million.

Since March of 2017, the business and operations of Acacia have been materially affected by the ongoing disputes with the Government of Tanzania. Acacia says it continues to favor a negotiated resolution to the company's dispute with the Government of Tanzania.

Barrick Gold is still negotiating with the Government of Tanzania to settle a dispute, which has seen Acacia banned from exporting gold and copper.

Barrick Gold shares were trading down 1.57% at $16.95 in Friday’s pre-market session.

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