The Faculty of Law (UP Law) at the University of Pretoria (UP) is proud to announce that Prof Willem Jacobs, Extraordinary Professor in its Department of Public Law and Chief Operating Officer of Barrick Gold, was instrumental in resolving a recent US$190 billion tax dispute in Tanzania.  

Prof Jacobs lectures in the Extractive Industry Law and Policy postgraduate programmes of UP Law, and is a member of itsManagement Committee of the Extractive Industry Law in Africa Unit.  

The dispute in Tanzania, originally involving Acacia Mining Plc, was inherited by Barrick after taking over Acacia in 2019.  Accusing Acacia of tax evasion, the Tanzanian government had imposed a ban on the company exporting mineral concentrates in 2017.  Following three years of comprehensive negotiations, Prof Jacobs resolved the tax dispute by arranging a US$300 million settlement payment, of which the first US$100 million instalment was transferred to the Tanzanian government in May 2020.  The settlement provides for a further five annual payments of US$40 million each, as well as a 16% government stake in a new joint venture — Twiga Minerals — that will manage Barrick’s three gold mines in the country.

In addition to negotiating the Tanzanian dispute, Prof Jacobs manages Barrick’s substantial flowchart of interlocking subsidiaries, and he is central to the company’s continued operations in the Democratic Republic of Congo and the Republic of Mali.  He has over 30 years of experience in the engineering, mining, and the investment sectors, of which 25 years were in executive roles.  Specialising in corporate turnarounds, mergers and acquisitions, as well as post-acquisition optimisations of combined business entities, he has worked and operated in complex and diverse multi-cultural environments.  Currently Barrick’s Chief Operating Officer for Africa and the Middle East, he also has extensive global experience, including in North and South America, Australia and Asia. 

According to UP Law's Dean Prof Elsabe Schoeman, 'The Faculty has benefitted greatly from the involvement of Prof Jacobs in setting up a unique master’s programme on Extractive Industries in Africa, which is creating advanced capacity Africa-wide in a field of vital importance to the future of the continent. Leaders like the current Minister of Justice of South Africa, the Minister Ronald Lamola, are among the alumni of this programme.'