Acacia mining to review operations if Magufuli ban persists
The Acacia North Mara Gold Mining site. The gold producer said it will have to review its operations if Tanzania's ban on gold and copper ore exports remains in place, . PHOTO | FILE
Tanzanian gold producer Acacia Mining will have to review its operations if the government's ban on gold and copper ore exports remains in place, a senior executive said Thursday.
Shares in Acacia, which is majority owned by Barrick Gold, briefly touched a six-week low, paring losses by 0900 GMT to trade down 3.7 per cent after it said first-quarter core profits rose 25 per cent to $82 million but cash flow was reduced by $36 million in part due to the ban.
