By Samantha Cole of Tanzania Business Ethics

It’s clear Acacia Mining urgently need a change of leadership. Brad Gordon & others must resign.

Anyone walking around Dar es Salaam this past week has heard non-stop talk about Barrick Gold. If anything is the talk of the town this week, it’s Barrick Gold and the deal our President, Dr. J.P. Magufuli, finalized with the Barrick Chairman, Dr. J. Thornton.

Yes, many Tanzanian’s were skeptical during the past few months ago.
Yes, many Tanzanians were suspicious as the weeks and months of silence went past.
After all, does not history repeat itself? In the past, our ex-Presidents usually walked away from discussions giving the ‘cream’ to overseas companies and leaving Tanzania with the crumbs.

But no, this is the NEW TANZANIA and our President is not only the “broom that sweeps clean”, but President JPM is our “bulldozer that cleans everything in front of it”.

Dr. J. Thornton learnt that lesson very quickly. He learnt that Tanzania is no longer the colony to play in. The golden years of earning huge profits overseas and leaving only crumbs here (compared to their profits) are all over. Finished. Past. History.

The Barrick Chairman met President Magufuli in the middle of June this year. For more than FOUR MONTHS Barrick used all their resources and specialists to discuss and negotiate with our Tanzania secret team. After about 18 weeks of these negotiations, the Barrick Chairman obviously realized that the winds of change in Tanzania were too powerful to change and he knew that the time had come to look into the future and work with Tanzania instead of against it (meaning leaving us with the crumbs).

Last week on Thursday, October 19, 2017, Dr. Thornton came back to our President and we all know the results of that meeting; 16% ownership in the 3 mines, 50% share in profits, US$ 300 million cash payment.

At Barrick Gold, the next man under Dr. Thornton comes Kelvin Dushnisky. He is the President of Barrick Gold worldwide. We also know that Mr. Dushnisky is the Chairman of the Acacia Mining Board of Directors. Therefore, not only is Barrick Gold tied into Acacia Mining by owning 63.9% of Acacia, but we also see clearly that even the top management of Barrick and Acacia are tied in together.

Whilst Barrick Gold are praised for moving forwards and looking to the future for better business with Tanzania, our “friends” at Acacia Mining are stuck in the past and fighting the optimism and positive spirit and direction that their mother company is trying to lay out before them. But wait, we have seen something similar to this in the past. And we even wrote about it, before.

Brad Gordon, the CEO of Acacia Mining, is doing his best to damage the deal that Dr. Thornton finalized with President Magufuli. To be honest, we are not surprised. This is almost a perfect repeat of Brad Gordon’s terrible performance as CEO of Intrepid Mining only 4+ years ago.

In fact, on July 14, 2016, we wrote about this exact scandal. Here is the link:

Here is a short extract from the above article (from July 14, 2016):

In March 2013, the media exposed a report of Mr. Gordon (at that time, the CEO of Emporer Mines) intimidating the Intrepid partner (at that time), Mr. Paul Willis, and forced him into signing a release for his rights to the Indonesia project. The report stated that Mr. Willis was outnumbered nine-to-one, including Intrepid CEO, Brad Gordon, and legal counsel Vanessa Chidrawi and six locals, armed with revolvers in holsters.

The Business Day claims they obtained an email to show how Intrepid conspired with the local partners to squeeze Paul Willis out of the venture.

Reports that the sole reason that the Tujuh Bukit Agreement expired was that Emperor Mines was too busy with the merger with Intrepid Mines and they left it until the last weeks to try and complete documents with the Indonesian’s that at best would have taken 3 months to complete. Intrepid simply left it until too late and “missed the boat” with the Indonesian’s, forcing the deal into crisis.

Reports were clear that Mr. Gordon spent aggressively (almost US$100 million) to prove up the huge scale of Tujuh Bukit without having finalised agreements to secure a direct stake in the project. Another great “achievement” by Mr. Gordon!! Who spends money without finalized agreements?

Why is there no surprise when we see that shortly after everything was exposed in the media, Mr. Gordon has started negotiating secretly with Barrick and only a few months later, in August 2013, Mr. Gordon resigns from Intrepid and walks away from the massive black hole in Indonesia that Mr. Gordon, as CEO, has left Intrepid ??

The good news for Intrepid was that Mr. Gordon had left! 

Only six months later, in February 2014, Chairman Ian McMaster announced Intrepid successfully brings the end of the dispute with the Indonesian’s and a few months later, in June 2014, Intrepid receive US$ 80 million.​

And now, here in Tanzania, we have almost the same depressing picture.
Brad Gordon creates a huge mess in Tanzania via Acacia Mining – guilty of tax evasion, alleged fraud and corruption, falsified exports, and the list goes on. And now the Chairman comes to clean up the mess, much against Brad Gordon’s wishes – causing more problems and a bigger black hole. Mr. Gordon and his top management circle, including Peter Spora, Deo Mwanyika, Charlie Ritchie, Peter Geleta all need to join Brad Gordon in the line handing in their resignations (or if not, be fired). Barrick Gold need to send in new, fresh, honest, mining professionals to start a clean page working with Tanzania as partners.

At least Ambassador Juma V. Mwapachu saw the writing on the wall and a few months ago, in mid-July, he took his bags and ran away from the Acacia Mining Board of Directors. Good move!!

On June 1, 2017, we wrote a public email letter to Dr. Thornton suggesting that the time was right for resignations at Acacia Mining. Here is the link:
Two weeks later, Dr. Thornton was sitting in front of our President at the Ikulu (State House) in Dar es Salaam. 

President Magufuli’s public speech earlier this week was amazing! This is the link:

The speech sends us all the right messages. Amongst many things JPM spoke about, his speech was a call to all us Tanzanians to stand together and work together and build together.

How do we build with negative, damaging and undesirable people like Brad Gordon, Peter Spora, Deo Mwanyika, Charlie Ritchie, Peter Geleta and we are sure Barrick knows who else.

Without a doubt, Gordon and Mwanyika should be the first to go – Gordon needs a new, fresh replacement CEO and Mwanyika needs no replacement as his job as “Mr. Fix-It” in Government offices must definitely fall away. The days to pay our Sisters and Brothers in Government positions to “Fix-It” are all over. As is written above – this is the NEW TANAZANIA.

God Bless President Magufuli
God Bless the Tanzanian People

Tanzania Business Ethics
Samantha Cole





By Samantha Cole of Tanzania Business Ethics

Summary of Barrick Gold’s Bad News:

> A very BIG drop in Barrick Gold’s sales on a year-to-year and sequential basis in the third quarter.

> To make matter worse, Barrick did not receive much support from better gold prices.

> The above will almost definitely pull DOWN Barrick’s earnings, and cash flows.


Analysts say that things changed at Barrick when Chairman John Thornton was forced to get involved in Tanzania as Barrick’s daughter company, Acacia Mining, in which Barrick owns majority of 63.9%, slipped deeper and deeper into their own-made mud slide.

In July, Barrick Gold announced that it would start to pre-release the quarterly production numbers in order to increase transparency and strengthen disclosure. Apparently, this type of disclosure is a FIRST for Barrick Gold in all its years in business. Surprise surprise!

Barrick’s production report for the third quarter stated:
Production: 1.24 million ounces 
Sales : 1.23 million ounces

This means Barrick’s sales have fallen 12.2% from Quarter 2 in 2017 (sales then were just under than 1.4 million ounces.
Also, Barrick’s sales fell 11.5% from Quarter 3 in 2016 (sales then were 1.39 million ounces).

Barrick Gold reported a drop in sales from all their operating units, including the crucial USA Barrick Nevada mine where sales dropped significantly.

Barrick Gold’s daughter company, Acacia Mining, continues to struggle with weak production and weak sales due to the dispute with our Tanzanian Government over tax evasion and fraud exports and other issues reported to President Magufuli by his two Committees earlier this year.

Barrick chairman, John Thornton came flying into Dar es Saalam thinking he can turn our President into one of his “victims” – but he did not realize that this is the NEW TANZANIA and our “Bulldozer” President is very wide awake and his care and love for Tanzania is the highest on all priority lists. Therefore, the situation remains until our President is ready to make changes.

For two years, our Anti-Corruption lobby has written to the bosses at Barrick Gold and also Acacia Mining to ask them to come personally to Tanzania to clean up all their mess here. It is undisputed that their local “Fix-It” people were making their company sink deeper and deeper into trouble. Of course, we are Black Tanzanians and since when do rich Whites take us Blacks seriously. After all, regardless of the double standards and hypocrisy they write on their websites and in their speeches, they think Tanzania is still a colony and that colonization is still alive here.

However, our President has proved that the NEW TANZANIA demands new systems and new methods and these mining giants are going to have TO SHAPE UP OR SHIP OUT!

We have written over and over again that our wish is that Acacia Mining will be successful in our country… IF they will pay their taxes, their export royalties and they will NOT allow rape, murder, destruction to our villages and properties and they will stop creating devastation in our environments.