Tanzania Mining News

Tanzania row overshadows Acacia's upbeat output, cost figures

Shares in the gold miner are up more than 50% since September when Barrick said it was buying Randgold Resources and when Mark Bristow was named as chief executive, taking over as head of the merged entity from January.

Africa Mining Indaba: Dam safety, Zambia taxes, Ford on cobalt

Executives, investors and government officials met in Cape Town at the African Mining Indaba, the continent’s biggest gathering of one of its most essential industries.

Barrick CEO on Zambia tax dispute: Threats don't solve problems

“We don’t believe that threatening one’s partner is a constructive way to go about solving problems.”

Tanzania to cancel licenses for undeveloped mineral sites

The announcement comes amid a tax dispute between the state and Acacia Mining Plc.

Tanzania President wants reserves to include nation's gold

Tanzania has banned shipments of mineral concentrates and slapped Acacia Mining Plc with a $190 billion tax bill.

Acacia Mining fined over alleged environmental breach in Tanzania

Barrick’s Acacia Mining has been hit with a 300-million Tanzanian shillings fine (about $129,144) over allegations of environmental breaches at its North Mara mine.

Tanzania's Magufuli wants central bank to buy gold as part of its reserves

Tanzanian President Magufuli said the central bank should start buying the country's gold to curb smuggling and build reserves to stabilise the currency.

Tanzania names latest mining minister in ongoing industry clash

A prolonged spat between the government and gold producer Acacia over a $190 billion tax bill has severely limited the company's operations in the East African nation.

Barrick is said to move closer to resolving Acacia dispute

A deal would be a major victory for Bristow as he prepares to take the helm of Barrick in January

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.