Tanzania Mining News

Acacia threatens Tanzania with legal action as dispute escalates

The company is also seeking direct talks with the country's government, as it's been excluded so far from negotiations between controlling shareholder, Barrick Gold, and President John Magufuli.

Tanzania anti-corruption body charges Acacia subsidiaries with tax evasion, money laundering

The news comes barely a week after the company said another worker had been released on bail after being charged with corruption.

Petra Diamonds CEO to leave following shares value dip, debt increase

Johan Dippenaar has held the top position since 2005, when Petra merged with Crown Diamonds.

Barrick Gold seeks Chinese partners, may slash headcount: Globe

The Canadian miner may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations.

Embattled Acacia Mining lets partner up stake in Nyanzaga gold project

 Acacia — Tanzania's No.1 gold miner— will retain a net smelter return production royalty over the project, capped at $15 million.

Acacia Mining searches for chairman as Dushnisky leaves for AngloGold

Kelvin Dushnisky, who leaves Acacia and its parent company Barrick, assumes as South Africa’s AngloGold Ashanti (JSE:ANG) new boss next week.

Acacia boss is getting frustrated waiting for Barrick Solution

It’s been a year since Acacia Mining Plc’s majority shareholder started talks on its behalf to end a standoff with the Tanzanian government.

Barrick’s Acacia Mining keeps suffering from Tanzania row

Gold production for the three months to June dropped 36% to 133,778 ounces as operations at two its three mines - Bulyanhulu and Buzwagi – were scaled back.

Petra Diamonds sells stake in Kimberley Ekapa JV for $22 million

The Kimberley Ekapa joint venture focuses on mining in the South African town of Kimberley.

No resolution yet for Acacia Mining tax row with Tanzania’s Gov’t

Barrick, which has been negotiating on Acacia’s behalf for over a year, had said it would deliver a deal for Acacia’s board to vote on by the end of June, but now says talks are ongoing and it has backed away from setting a new deadline.

Petra Diamonds secures $170 million to help lower debt

Shareholders approved the discounted rights issue at a special meeting in London held Wednesday.

Petra Diamonds says it urgently needs to raise $178m to cut debt

Petra has been hit by production delays, strikes, a confiscated consignment of diamonds and a strong South African rand.

It’s not about scoring the big win, it’s about not backing losers

MINING.com discusses the state of private equity investment in mining with Michael Scherb founder of Appian Capital.

Tanzanite miner gets bill as Tanzania cracks down on lost mineral revenues

Tanzanian gemstone miner Tanzanite One has agreed to pay compensation and overdue taxes to the government after violations led to losses in public revenues.

Shanta Gold to expand search in Tanzania, as new laws deter others

Shanta Gold will conduct further exploration near its main mine in Tanzania after cutting costs in the past year to cope with tougher mining laws.

Glencore, Barrick expect prospecting licence for Tanzania nickel project

Tanzania is seeking a bigger slice of the pie from its vast mineral resources by overhauling the fiscal and regulatory regime of its mining sector.

AngloGold upbeat on Africa even as mine uncertainty persists

The company is mired in disputes with the governments of Tanzania and the Democratic Republic of Congo over law changes that raise taxes in the countries.

Making a bad situation worse: Tanzania introduces further regulatory changes to the mining sector

The changes are part of a worrying trend of sweeping legislative and policy changes, implemented without consultation with stakeholders.

Petra Diamonds rallies on revenue growth, record output

Revenue for the quarter ended March 31 climbed 44% to $172 million, while production jumped 20% to a record quarterly volume of 1,194,947 carats.

Embattled Acacia Mining keeps losing money due to Tanzania tax row

Revenue in the first quarter slumped almost 50% due mainly to reduced operations at its flagship Bulyanhulu gold mine.

Investment in Africa’s mining sector to rise: BMI

BMI presents the recent changes to the DRC’s mining code as an example of a situation that challenges all the parties involved, but that is very unlikely to cloud miners’ interest in venturing in the country.

Tanzania's new mining rules impose restrictions on foreign banks, insurers

Tanzania is seeking to take more of the profits from its vast mineral resources by overhauling the fiscal and regulatory regime of its mining sector.

Acacia Mining admits in talks with Chinese over potential sale of Tanzania assets

Tanzania's top gold producer said in conversations with potential investors over a stake in some or all of its operations in the East African nation.

Embattled Acacia Mining ends painful year with $700-million loss

The miner has also scrapped its 2017 dividend after full-year core earnings fell by more than a third because of a ban on unprocessed mineral exports in Tanzania.

Acacia adopts fresh gold price protection measures

Miner has spent $2 million to lock in the option to sell 120,000 ounces of future output at $1,320 an ounce, as it waits for Tanzania exports ban to end.