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Vol 60 No 5

Published 8th March 2019

South Africa

Contradictions in the contracts

Companies are adjusting their strategies in an era of resource nationalism

It seemed like a defining moment when Mark Bristow, the new chief executive officer of Barrick Gold, was asked at the African Mining Indaba in Cape Town last month how much of the controversial Acacia Mining gold project he would be prepared to cede to the Tanzanian government. Bristow, once seen as one of the hard men of South African mining, said it would be 'around 50%' but that Barrick could end up with the minority stake. To many that looked like a serious concession to Tanzania's President John Magufuli, who has been pushing a resource-nationalist policy.

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