Acacia seeks stay of international arbitration against Tanzania
A miner inside Bulyanhulu gold mine in northern Tanzania. Acacia recorded a 51 per cent increase in gold output from its three Tanzanian operations combined during the second quarter of 2019. PHOTO | FILE | NATION MEDIA GROUP
Tanzania’s Acacia Mining on Wednesday said it was seeking a stay of international arbitration proceedings, days before a hearing was due to start and two days before a deadline for a buyout proposal by Barrick Gold Corp.
The gold miner has been fighting a bid by majority shareholder Barrick, which Acacia says undervalues it.
