Acacia Mining notes media reports in Tanzania that a current and a former employee of its Tanzanian businesses have been detained by the PCCB.
Acacia Mining is reports another strong operating performance in the Q2, 2018, delivering a Group production of 133,778 oz which led to an increase in the Group’s cash balance of US$13 million to US$120 million.
The government of Tanzania recently established a Mining Commission in accordance with its new Mining Act. This means that the government can reinstate the issuing of mining licences following the enforcing of a copper and gold concentrate ban and some draconian amendments to mining policy and legislation.
Ernst and Young demonstrates the significant contribution that Acacia’s three mines – North Mara, Bulyanhulu and Buzwagi – continue to make to Tanzania’s economy as well as the country’s broader social development.
Acacia Mining's gold production for Q1 2018 in Tanzania indicated a 55% decrease on Q1 2017, primarily driven by the move to reduced operations...