(Updates with closing share price in second paragraph.)
June 9 (Bloomberg) -- African Barrick Gold Plc, the largest producer of the metal in Tanzania, rose the most in two months in London trading after dismissing concerns its operations in the African country may be affected by increased taxes.
African Barrick climbed 10 pence, or 2.4 percent, to 425 pence by the 4:30 p.m. close, the biggest gain since April 8.
The shares dropped 7.8 percent yesterday after Tanzania’s national planning commission recommended the government consider a so-called super-profit tax on the mining industry.
“The tax treatment of our existing operations is, and will continue to be, that set out in the respective Mineral Development Agreements,” London-based African Barrick said in a statement today.
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