‘No winners’ from spat with Tanzanian government says Acacia boss February 11, 2019 There will be “no winner” in the dispute between Acacia Mining and Tanzania’s leaders, chief executive Peter Geleta said today as the company returned to profitability. Acacia’s shares closed down around 1.1 per cent despite profit before tax reaching $97m (£75m) last year after the company lost $710m in 2017, hit by a $850m impairment [...]
Acacia fined for environmental breaches in Tanzania amid ongoing spat January 10, 2019 Acacia Mining has been hit with a 300m Tanzanian shilling fine (£102,000) two days after the country appointed a new mining minister. Authorities demanded payment after the FTSE 250 listed company allegedly broke environmental laws. However, Acacia said it had not received any details to support the allegations. The fairly small fine pales into insignificance [...]
Acacia shares drop amid reports of fraud office probe December 17, 2018 Shares in Acacia Mining dropped earlier amid reports that the Serious Fraud Office is looking into the company’s affairs in Tanzania. The London-listed miner fell 3.76 per cent to 185.45 after the Wall Street Journal claimed an SFO investigation will focus on claims that the company’s employees bribed Tanzanian government officials and consultants. The SFO [...]