Acacia Mining's Q4 output down on Tanzania export ban
A miner inside the Bulyanhulu gold mine in northern Tanzania. The country believes it is not getting enough revenue from its minerals and is encouraging the construction of a local smelter. PHOTO | FILE
Acacia Mining on Monday said its fourth-quarter production fell by a third on the previous year due to a ban on exports of gold and copper concentrates in Tanzania.
The London-listed miner said production in the three months to December fell 30 per cent to 148,477 ounces compared with a year ago and 22 per cent from the previous quarter. This brought 2017 gold to 767,883 ounces, ahead of its expectations of 750,000 ounces.
