Barrick Gold (CN:ABX) chairman John Thornton met with Tanzanian president John Magufuli on Wednesday to discuss the issues surrounding Acacia Mining (LN:ACA) however the outcome of the meeting is unclear, the Mining Journal reports. Continue reading
Tanzania’s president fired the mining minister and the chief of the State-run mineral audit agency on Wednesday, after receiving a report into whether mining companies were under-declaring the value of their exports.
President John Magufuli’s decision, announced in a speech, signals an escalation of tensions between the government and the industry, which has denied engaging in tax evasion.
Mining accounts for about 4% of Tanzania’s gross domestic product.(source: Miningweekly)