Acacia Mining posts $59m profit for 2018

A miner inside Bulyanhulu gold mine in northern Tanzania. Acacia, which is Tanzania’s largest gold miner, posted net earnings of $59 million after a net loss of $707 million in 2017. PHOTO | FILE

Tanzania-based mining company Acacia returned to profitability in 2018, posting net earnings of $59 million after a net loss of $707 million the previous year.

The London-listed company said its revenue last year was $664 million, 12 per cent lower than in 2017.