Acacia Mining (LON:ACA), Tanzania’s No.1 bullion producer, which has been hit hard by a long-running dispute with the government of the East African nation, is mulling the sale of stakes in some or all of its operations in that country.
Read MoreAcacia Mining (LON:ACA), Tanzania’s No.1 bullion producer, has scrapped its 2017 dividend after a long-running dispute with the government of the East African nation cost the company $700 million in annual loss.
Read More(Reuters) – Acacia Mining Plc said on Tuesday it would sell its 2 percent royalty over the Houndé Mine in Burkina Faso for $45 million to Sandstorm Gold Ltd. The deal is expected to close early in the first quarter of 2018.
Read MoreAcacia Mining (LN:ACA) CEO Brad Gordon and CFO Andrew Wray have resigned from the struggling miner. The Barrick Gold (US:ABX) majority-owned subsidiary has been in a struggle with the Tanzanian government almost all year, but its leaders were shunted from the process early in negotiations.
Read MoreAfrica-focused gold miner Acacia Mining (LN:ACA) surpassed output expectations from its Tanzania mines during the September quarter, although it still produced less than the same period of 2016.
Read MoreNew laws and a crackdown on mining firms in Tanzania has slowed fresh investment in what has long been seen as one of Africa’s brightest mining prospects as companies assess the consequences of government efforts to claim a bigger slice of the pie.
Read MoreGold miner Acacia has been hit with a demand for $190bn in unpaid taxes to Tanzanian authorities in a row it has called “inaccurate and unexplainable”. The demand follows a finding by government-appointed committees that the firm was operating illegally and had understated its gold exports.
Read MoreAcacia Mining (LON:ACA), Tanzania’s No.1 gold producer majority owned by Barrick, has agreed to pay higher mining taxes in the country even though it’s still disputing in an international court some of the changes to the laws governing its three gold mines.
Read MoreBarrick Gold (CN:ABX) chairman John Thornton met with Tanzanian president John Magufuli on Wednesday to discuss the issues surrounding Acacia Mining (LN:ACA) however the outcome of the meeting is unclear, the Mining Journal reports.
Read MoreAcacia Mining (LN:ACA) may have to consider operational shutdowns within its Tanzania-focused gold portfolio, after incidents this week suggested there would be no quick fix for a concentrate ban introduced in March that significantly affects revenues.
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