In 2017, Acacia Mining, a subsidiary of Canadian parent company Barrick Gold, was slapped with an incredible $190bn (£145bn) tax bill over royalties the government said it owed, though it denied any wrongdoing. As part of the settlement, Barrick eventually agreed to pay $300m after buying out Acacia, and a new operating company, Twiga Minerals, was formed with the government owning 16% of the joint venture. Barrick and the Tanzanian government also agreed to the sharing of unspecified future economic benefits from the mines on a 50-50 basis.
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