Barrick Gold Fights $1 Billion Tax Bill From Chilean Mine Sale

Barrick Gold Corp., the world’s largest gold mining company, is contesting a $1 billion tax bill tied to the 2015 sale of its interest in a Chilean copper mine.

Barrick sold 50% of the Zaldivar copper mine in July 2015 to Chilean copper producer Antofagasta PLC for about $1 billion.

The company said it is appealing a determination by the Chilean tax authority that a subsidiary, Compania Minera Zaldivar, wrongly deducted a loss from an inter-company transaction in an effort to offset capital gains tax on the sale of that mine.

“The company believes that the ...