Barrick Gold has agreed to sell a 16 per cent stake in three mines in Tanzania to the government. The company also agreed to share 50 per cent of the revenues from the mines. Barrick's chairman John Thornton made the announcement at a news conference at State House Dar es Salaam on Thursday after a meeting with President John Magufuli and government officials. The mines -- Bulyanhulu, Buzwagi and North Mara -- are operated by Barrick's Acacia Mining, where it holds a 64 per cent stake. The Canadian miner has also agreed to pay $300 million as a show of good faith after it was slapped with a $190 billion tax bill for alleged underdeclaration.