Acacia Mining Mining News

Barrick Gold, Tanzania begin talks to resolve Acacia Mining dispute

The world’s largest gold miner hopes to reach an agreement over claims against its subsidiary and the country’s current ban on mineral concentrate exports.

Acacia Mining now hit with $190 billion tax bill in Tanzania

Shares collapsed on the news to close almost 21% lower in London. Barrick, which has a 64% stake in Acacia, also fell in both Toronto and New York.

Tanzania officials question Acacia Mining staff in legal spat with Gov’t

Early reports claimed that Tanzania had asked foreign workers of the gold miner to leave the country, but a spokesperson for the company denied that story.

Acacia agrees to pay higher taxes set in Tanzania new mining law

It means that the miner, which had revenue of $1bn last year, will pay about $31 million extra in royalties a year.

AngloGold taking Tanzania to UN court over country’s new mining law

The miner said it continues to seek a “constructive dialogue” with the country's government to gain assurance that its operations will not be affected by newly enacted mining law.

Tanzania suspends granting of new mining licences

President John Magufuli has also ordered the mining ministry to freeze the renewal of expired permits.

Tanzania-focused miners face fresh challenges as country passes new laws

The two new laws allow the government to force mining and energy companies to renegotiate their contracts.

Tanzania laws would allow govt to tear up mining, energy deals

The Tanzanian government submitted three bills to parliament on Thursday that would allow it to force mining and energy companies to renegotiate their contracts.

Villagers invade Acacia's North Mara mine in Tanzania

Hundreds of villagers near the North Mara gold mine in Tanzania invaded the mine for several days last week in an attempt to steal gold ore.

Tanzania says Barrick to pay money owed by Acacia to Gov’t

Barrick confirmed chairman John Thornton met President John Magufuli for talks Wednesday, but didn't mention the details of what, if anything, had been agreed.

Tanzania accuses Acacia of illegal mining in fresh blow to Barrick’s subsidiary

Government accused the gold miner of operating illegally in the country and said it has been evading taxes.

World’s largest gold miner hit by Tanzania export ban

Barrick's comments come on the heels of a report published this week, which claims its Tanzanian subsidiary has been under-reporting the amount of metal in its shipments to evade taxes.

Tanzania outs mining minister over alleged collusion with companies to evade taxes

Shares in gold producer Acacia Mining, one of the firms accused of eluding taxes, fell by more than 18% to 18% to 355.70 pence on the news.

Acacia Mining says West Kenya project holds high-grade gold

With six drill rigs currently active on site, and two more to follow soon, Acacia expects to increase the resource to 2 million ounces by the end of the year.

Acacia Mining soars after revising gold output forecast up

Stock climbed 12.94%, closing the session at 529p.

Acacia back up to speed in Tanzania

African miner sticking to full year guidance of 780,000 ounces following plant shutdown amid majority owner Barrick's divestment talks.

Harmony Gold swings back to profit, will consider Barrick's Acacia stake

The potential acquisition fits in the South African gold producer’s plans to expand operations across Africa.

Barrick in talks with South African miners to sell stake in Acacia — report

The potential sale of its its 64% interest in Acacia would be part of Barrick's broader strategy of selling non-core assets to reduce debt.

Imminent verdict in case that blames Acacia of partner’s mine permit loss

An arbitration tribunal is set to decide in October whether Acacia Mining has to pay a $115 million compensation claim to a former partner in Tanzania.

Acacia Mining seeking gold assets across west Africa

Acacia Mining Plc is looking to buy gold mines and exploration projects in Senegal, Mali and Ghana to expand in west Africa, Chief Executive Brad Gordon said.

African Barrick is history, changes name to Acacia Mining

The miner plans underground operations at North Mara and inked a deal that could see it acquire up to 70%of a project in Burkina Faso.