Acacia seeks arbitration after Tanzania tears up mining contracts

Tanzanian President John Magufuli. FILE PHOTO |

Acacia Mining on Tuesday said it was seeking an adjudicator to resolve its dispute with the Tanzanian government, a day after the east-African country passed two laws to force companies to re-negotiate their contracts.

Tanzania's President John Magufuli has sent shock-waves through the mining community with a series of actions since his election in 2015 that he says are to distribute revenue to the Tanzanian people.

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