Acacia threatened in October to use a bilateral investment treaty to force direct negotiations with Tanzania after Barrick failed to settle the row that has rumbled on for more than a year and a half.
Tanzania has terminated its Bilateral Investment Agreement with the Netherlands that East African and Dutch civil society had said was biased against the country.
Tanzania is urged to review the 15 years Bilateral Investment Treaty (BIT) with the Kingdom of Netherlands expires in April 2019 before it reckons itself for another 10 years.
Tanzania has moved to ensure that investor disputes are resolved locally after Attorney General Adelardus Kilangi pushed through parliament the Public Private Partnership (Amendment) Bill, 2018.
Civil society organisations are pushing for a review of the BIT between Tanzania and The Netherlands which they say does not serve the best interests of Tanzania.
Tanzania is currently confronting this challenge, faced with a new international investment dispute tied to a proposed large-scale sugarcane and ethanol production project.
Swedish investor EcoDevelopment registered a claim at the ICSID against the Tanzanian government for revoking a land title amid concerns over the impact on local communities and a wildlife sanctuary.