Hold on, London bullion banks -- here comes a lot of Tanzanian gold for hypothecation from your friends at Barrick

Section:

$280 million X 100 = $280 billion.

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Barrick to Sell Gold Worth Up to $280 Million as Export Ban Is Lifted

By Zandi Shabalala
Reuters
Monday, January 27, 2020

LONDON -- Barrick Gold will start to ship gold worth up to $280 million from Tanzania, chief executive Mark Bristow said today, after the government lifted an export ban following the resolution of a three-year tax dispute.

The world's second-largest gold miner signed a deal on Friday with Tanzania's government, ending a row that dated back to when Acacia Mining ran the Tanzanian operations.

... Dispatch continues below ...



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Barrick fully acquired Acacia last year.

"The shipments will start immediately and, as we speak, we are mobilising the concentrates," Mark Bristow told Reuters in a telephone interview. "It's (worth) around $260-$280 million depending on the price of metal prices at the time of sale." ...

... For the remainder of the report:

https://www.reuters.com/article/us-barrick-gold-tanzania/barrick-to-sell...

* * *

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