Acacia Mining, which is scaling back operations to cut losses and settle a dispute with the Tanzanian government, has spent $3.2 million on options to sell 210,000 ounces of its gold output at $1,300 per ounce.
Shares in Acacia, majority-owned by Barrick Gold, have lost almost half their value since the start of the year, after Tanzania banned concentrate exports at the start of March and then, in July, demanded $190 million in unpaid taxes.
