Tanzania Mining News

South Africa labour disputes weigh on Petra Diamonds results

Labour disputes earlier in the year caused delays in the building of a new plant in its Cullinan mine in South Africa.

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.

Russian state corporation suspends $1.2 billion uranium project in Tanzania

Weak uranium market and new Tanzania’s regulations named the main culprits.

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.

Petra Diamonds warns output to fall short, shares crash

The company, which owns the Cullinan mine that has produced the two largest diamonds in the British Crown Jewels, said output and revenue will be lower than market expectations.

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.

Strike ends at Harmony Gold’s Kusasalethu mine

Company to launch probe into the causes of the illegal sit-in of nearly 48 hours.

Harmony logs record quarterly revenue, halves debt

The world's fifth largest gold miner increased production, had stronger cash flows and paid shareholders a dividend in the first quarter of its 2017 financial year.

Acacia Mining soars after revising gold output forecast up

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

Harmony Gold bullish on cash flows as it reports increased output in Q3

After losing money for three years to 2015, Harmony is now focused on finding mines able to offset falling production at its South African operations.

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.

Police killed 65, injured 270 at Barrick mine in Tanzania, inquiry hears

Tanzanian police have killed 65 people and injured 270 during years of sporadic clashes with villagers at a controversial Canadian-owned gold mine, according to evidence heard by a Tanzanian government inquiry.

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.

Petra Diamonds finds massive 138-carat white rock at its Cullinan mine

The diamond will be offered for sale in Johannesburg later this month.

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.

Petra sells 121.2- carat diamond for $6 million

It was found at Petra's Cullinan mine in South Africa, which has yielded several massive gems, including the largest rough gem diamond ever discovered.