Loading ...Acacia Mining (LON:ACA), Tanzania’s No.1 gold producer majority owned by Barrick, has agreed to pay higher mining taxes in the country even though it’s still disputing in an international court some of the changes to the laws governing its three gold mines.
The company, which spun off from Barrick Gold in 2010, will now pay a 6% royalty, up from 4%, on metallic minerals including gold, copper and silver. The miner also said it would continue to pay the recently imposed 1% clearing fee on exports.
Acacia’s decision to comply with higher royalties fits experts forecast that companies already active in the Tanzanian mining sector will stay put, despite the much-less favourable regulatory environment.
cont. http://www.mining.com/acacia-agrees-pay-higher-taxes-set-tanzania-new-mining-law/