Africa Mining: “Acacia Mining rejects $190bn Tanzanian tax bill” – BBC

Acacia in Tanzania

Keeping the lights on, for now: Operations at Bulyanhulu could be suspended as the export ban in Tanzania bites

Gold miner Acacia has been hit with a demand for $190bn in unpaid taxes to Tanzanian authorities in a row it has called “inaccurate and unexplainable”. The demand follows a finding by government-appointed committees that the firm was operating illegally and had understated its gold exports. Continue reading

Africa Mining: Under new mining law, Acacia agrees to pay higher taxes to Tanzania

acacia-agrees-to-pay-higher-taxes-set-in-tanzania-new-mining-law

Acacia Mining is Tanzania’s biggest gold producer and operates three major mines in the country — Bulyanhulu, Buzwagi and North Mara (pictured). (Image courtesy of Acacia Mining)

Acacia Mining (LON:ACA), Tanzania’s No.1 gold producer majority owned by Barrick, has agreed to pay higher mining taxes in the country even though it’s still disputing in an international court some of the changes to the laws governing its three gold mines.

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Africa Mining: Barrick’s Acacia Mining gets involved in Tanzania dispute

Acacia in Tanzania

Keeping the lights on, for now: Operations at Bulyanhulu could be suspended as the export ban in Tanzania bites

Barrick Gold (CN:ABX) chairman John Thornton met with Tanzanian president John Magufuli on Wednesday to discuss the issues surrounding Acacia Mining (LN:ACA) however the outcome of the meeting is unclear, the Mining Journal reports. Continue reading

Africa Mining: Acacia Mining faces troubles in Tanzania

Acacia in Tanzania

Keeping the lights on, for now: Operations at Bulyanhulu could be suspended as the export ban in Tanzania bites (Miningjournal.com)

Acacia Mining (LN:ACA) may have to consider operational shutdowns within its Tanzania-focused gold portfolio, after incidents this week suggested there would be no quick fix for a concentrate ban introduced in March that significantly affects revenues. Continue reading

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