Buckreef

Acacia Mining notes media reports in Tanzania that a current and a former employee of its Tanzanian businesses have been detained by the PCCB. 

The Tanzanian Prevention and Combating of Crime Bureau (PCCB) are reported to have stated to Tanzanian media that they have arrested two people as part of their “ongoing investigation into natural resources exploitation” and as part of the “war that the government is waging in the Minerals sector”, and alleged that the two people arrested had “occasioned the Government losses”.

Acacia Mining does not know what charges will be brought against the two people by the PCCB, or when they will be charged.

As Acacia Mining reported on 11 October 2018, in connection with charges brought against another Group employee in Tanzania, the company’s 19 month disputes with the Government of Tanzania remains unresolved.

While Acacia Mining remains of the view that a sustainable negotiated resolution of its disputes with the Government of Tanzania is the preferred outcome, the interests of stakeholders have been protected in the meantime through the international arbitrations commenced in respect of the Bulyanhulu and Buzwagi businesses, with a number of procedural steps completed and in which the Government of Tanzania has been fully participating.

Acacia Mining is also continuing to engage with Barrick Gold Corporation to seek to understand the future conduct and a timetable for the completion of Barrick’s direct discussions with the Government of Tanzania, in which Acacia is not directly involved.

The company’s operations at North Mara, Bulyanhulu and Buzwagi currently remain unaffected.