Bloomberg News

African Barrick Gold Says No Change to Tanzania Royalty Rate

December 13, 2011

Dec. 13 (Bloomberg) -- African Barrick Gold Plc said there is no change in the royalty percentage it pays on gold exports from Tanzania.

“If and when any change takes place, the company will communicate to the market,” Charles Chichester, an external company spokesman with Finsbury Ltd., said by phone from London today. Negotiations continue with the government on these and other issues, he said.

Reuters reported the company had agreed with the East African nation’s government to increase royalties on exports of the precious metal to 4 percent from 3 percent, citing the mines ministry.

To contact the reporter on this story: Jana Marais in Johannesburg at jmarais@bloomberg.net

To contact the editor responsible for this story: Ana Monteiro at amonteiro4@bloomberg.net


Shake It Up
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus