Wednesday, 14 June 2017


Professor John Thornton, Chairman of Barrick Gold Cooperation, which owns majority shares (63.6 per cent shares) of Acacia Mining Limited, has pledged to pay, to the government of Tanzania, all loss incurred through his company’s operations in the country.
Professor Thornton who arrived in Tanzania directly from Canada by a private jet, made the pledge during the talks with President John Pombe Magufuli held today at the state house.
During the talk which was also attended by Tanzania Minister for Justice and Constitutional Affairs Professor Palamagamba Kabudi and Canadian High Commissioner to Tanzania Mr. Ian Myles, Professor Thornton said his company is ready to sit with government to discuss the whole issue for the mutual benefit of both parties.
The statement from Director of State House Communications available to the media quoted Barrick boss to have committed his company to pay to the government all amount of money lost during Acacia’s mining operations in Tanzania.
On his part, President Magufuli told Professor Thornton that he warmly welcomes the move of holding a consultative meeting between the two parties and promised to appoint a team of experts to negotiate with Barrick.
He expressed his optimism that the two parties will reach a consensus on how Tanzania will be paid the money which was supposed to earn from Acacia business operations and indeed to determine on how Acacia company will undertake its business for the benefit of both parties.
President Magufuli was quoted to have said that apart from accepting to pay the loss caused by Acacia operations, Professor Thornton has agreed to build gold smelter in the country.
Meanwhile, President Magufuli has warned media from associating former presidents with two Mining Probe Committees Reports and pointed out that none of the two reports mentioned former Presidents Benjamin Mkapa and Jakaya Mrisho Kikwete.
“I have read both reports and nowhere in those report was neither Mzee Mkapa nor Mzee Kikwete mentioned. Media should avoid to smear our former leaders who have worked hard to develop our country. Leave them alone!” President Magufuli said.
The visit of Professor Thornton followed by the release of two reports of Presidential mining probe committee which implicated Acacia Mining Limited to have caused loss amounting to Tshs 108.46 trillion to  Tanzania government.


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