Acacia Mining plc
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BUYOUT: Barrick to buy out Acacia minority shareholders
TORONTO – Barrick Gold has indicated it is willing to buy out the minority shareholders of Acacia Mining if that is what it takes to resolve tax and environmental woes of Acacia in Tanzania. Barrick already holds 63.9% of Acacia’s…
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COMMENT: Acacia takeover by merged Barrick an option
UNITED KINGDOM – The buyout of Acacia Mining’s minority shareholders by the new, larger Barrick Gold is one option, said Mark Bristow, CEO of Randgold Resources. Toronto-based Barrick, which owns about 64% of Acacia, and Randgold are merging in a…
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GOLD: Tanzania charges Acacia workers with corruption
TANZANIA – Beleaguered Acacia Mining is back in the crosshairs of the Tanzanian government. Taxation issues between the company and the country have been a source of friction for a year and a half. Then a year ago, the government…
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GOLD: Talks continue between Barrick, Tanzania government
TANZANIA – The long running tax dispute between Barrick Gold subsidiary Acacia Mining and the government of Tanzania continues. The sides are talking and the discussions are constructive, said Barrick. But the company declined to guess at when the discussions…
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GOLD: Acacia, Tanzanian government reach 50:50 deal
TANZANIA – Acacia Mining of London, U.K. and the Tanzanian government have reached a deal whereby they will share the benefits from Acacia’s operations on a 50:50 basis going forward. Acacia is 63.9% owned by Toronto’s Barrick Gold. Acacia has…
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GOLD: Acacia cuts operations at Bulyanhulu
TANZANIA – The African subsidiary of Barrick Gold, Acacia Mining, is reducing its operations and workforce at the Bulyanhulu gold mine as the country’s government continues its ban on export of copper-gold concentrate. The decision will cut 1,200 employee and…
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COMMENT: Two committees, twice the bad news for Acacia
Followers of international mining news have read about the Tanzanian government’s beef with Acacia Mining which is headquartered in London, U.K. Last month we learned that the report of a government committee says Acacia owes tens of billions in unpaid…
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GOLD-COPPER: Tanzania bans concentrate exports
TANZANIA – In March the Tanzanian government banned the exports of gold and copper concentrates from that country, a move that was especially troublesome to Acacia Mining. Many hoped the ban would be lifted, but last week the government charged…
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COMMENT: Acacia out, artisanal miners will suffer in Tanzania
Tanzanian president John Mafuguli has cancelled a prospecting licence belonging to Acacia Mining, formerly African Barrick. Instead, he told reporters that the artisanal miners would be allowed to stay at the site. “How do you kick out more than 5,000…
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GOLD: Acacia Mining new name for African Barrick
LONDON, U.K. – The African Barrick name is fading from the continent as the company changed its name to Acacia Mining plc on Nov. 27, 2014. The change comes as the company focuses on its gold portfolio in Africa. Despite the name change,…
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COMMENT: Tulawaka gold mine to close
If some stories are to be believed, African Barrick Gold of London, U.K., is “considering” the shutdown of its Tulawaka gold mine in Tanzania. The first reports came from allAfrica.com, and the news is making the rounds.
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MINING PEOPLE: African Barrick, Caledonia Mining, Canada Lithium, Nickel Institute, and Stornoway
African Barrick Gold of London, UK, has named Bradley A. Gordon as its new chief executive, succeeding Greg Hawkins who has resigned to pursue other opportunities. Gordon was previously the CEO of Intrepid Mines.
