Troubled talks with African Barrick

Talks between China National Gold Group Corporation and African Barrick Gold are now in trouble owing to great divergences in taxation and historical issues, China's 21st Century Business Herald citied Sun Zhaoxue, general manager of the Chinese company, as saying in a report on Tuesday.

Sun added that Barrick was still enthusiastic about the Chinese company and negotiations had not stopped.

In August it was reported that China National Gold Group Corporation would acquire the Tanzania-based African Barrick affiliated to Barrick Gold Corporation with an estimated value of $3.9 billion. The acquisition, if successful, would be China's biggest gold project abroad and would double China's gold reserves.