Tanzania: Acacia Seek S Stay of International Arbitration

ACACIA Mining said yesterday 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. The deadline for a firm bid from Barrick, which holds 63.9 per cent of Acacia, is Friday.

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