** U.S.-listed shares of Canadian gold miner Barrick up 2.3 pct at $179.21, after co details deal reached with Tanzania’s government to settle disputes with Barrick’s Acacia Mining unit
** GOLD confirms a framework 2017 deal which involved creating a local Tanzanian firm to manage ACAA’s assets, an equal split of economic benefits and a $300 mln payment to resolve tax claims in the East African country
** “While the original deal details have been known for over a year now, we believe that the actual execution of the US$300 million payout ... will remove a major overhang for Barrick and Acacia,” - Credit Suisse analysts in a note
** Barrick’s Toronto-listed stock trades up 3 pct to C$18.45, set for a 2019 closing high
** The deal marks a victory for Barrick’s new chief executive Mark Bristow who took the helm in January after the Barrick merged with Randgold Resources
** Shares of London-listed Acacia, 63.9 pct owned by Barrick as per Refinitiv Eikon data, surge 12.8 pct to their highest close since July 2017
** However, ACAA has not yet received Barrick’s proposal, it said in a separate statement
** Spot gold prices rising to a 10-month peak are also supportive
** More than 11.2 mln of Barrick’s U.S. shares change hands, ~4x their 30-day moving avg
** Including session moves, Barrick has edged up 3.3 pct this year, compared with a 11.6 pct rise in the NYSE Arca Gold BUGS Index (Reporting by Aaron Saldanha and John Benny in Bengaluru)
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