Tuesday, 25 July 2017

Gold miner Acacia Mining rejects $190bn Tanzanian tax bill

Gold miner Acacia has been hit with a demand for $190bn in unpaid taxes to Tanzanian authorities in a row it has called "inaccurate and unexplainable".

The demand follows a finding by government-appointed committees that the firm was operating illegally and had understated its gold exports.

Acacia's website says that it has declared all materials produced and has paid royalties and taxes in full.

The UK-listed firm's shares were down 7.7% in morning trade in London.

Its share price has been tumbling for months as disagreements with the Tanzanian authorities have grown.

BBC      News.

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