12th Aug 2019 08:41
(Alliance News) - Acacia Mining PLC said Monday its has received approval from the government of Tanzania to resume gold exports from the North Mara mine, following an investigation conducted at the end of July.
However, the Tanzanian Mining Commission also said it believes that certain provisions of mining regulations from 2010 were violated and directed the gold miner to submit a North Mara feasibility study report and mine plan for approval by Friday.
In mid-July, the country's Ministry of Minerals said it would make an inspection of the North Mara mine, suspending gold exports until the inspection was concluded.
Acacia has been under pressure since Tanzania in 2017 banned all exports of metal concentrate in an effort to keep processing activities in the country. Acacia has three producing mines in Tanzania: Buzwagi, Bulyanhulu, and North Mara.
Shares in Acacia Mining were down 1.3% at 242.12 pence on Monday morning.
Related Shares:
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