Acacia agrees to pay higher royalties to Tanzania

A mining area in Tanzania. The new royalty fees are just one of the measures put in place by amendments to the country’s mineral law. PHOTO | FILE

Acacia Mining has agreed to pay the higher royalties imposed by Tanzania this month, even as the company disputes with the government the value of its mineral exports.

The UK-listed miner said it would now pay a six per cent royalty, up from four per cent, on gold, copper and silver, as well as the new one per cent clearing fee that was recently imposed by the country’s mineral law, which was recently revised.