Tanzania Mining News

Acacia Mining ends earn-in deal with Sarama in Burkina Faso

Acacia chose to divest of South Houndé as part of an ongoing review of its exploration portfolio, to focus on core projects.

New Barrick CEO eyes miners' alliance to fix Tanzania tax row

The alliance strategy saw little success in the Congo.

Ex-SAS Commander who led Barrick's efforts in Tanzania has left

Richard Williams who served as Barrick’s chief of staff and later chief operating officer was assigned in February to work full-time on securing a deal between the Tanzanian government and Acacia Mining Plc.

Acacia takeover by merged Barrick an option — Randgold CEO

Acacia has three operating mines in Tanzania and is engaged in a protracted and ugly disagreement over taxation with the government.

Randgold ready to mediate in Acacia's Tanzania row before Barrick tie-up

Bristow, who will be CEO of the merged firm, did not give specifics about what that mediation would involve, but said he would be acting in his capacity as Randgold's chief executive not as the head of Barrick.

Barrick favors taking back control of Acacia Mining

No final decision has been made, and it’s also not clear whether all three of Acacia’s Tanzanian gold mines will be brought back into Barrick.

Petra Diamonds revenue up as production, sales jump

Revenue rose 22 percent in the quarter to $80.2 million from $65.8 million a year prior, despite diamond prices being 5 percent lower when compared to the same period of 2017.

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.