12th Jul 2019 15:21
(Alliance News) - Acacia Mining PLC said on Friday the Tanzanian Mining Commission will soon be inspecting its North Mara gold mine.
The letter received by North Mara stated export permits for gold shipments from the mine will be issued following completion of the inspection.
Acacia said it is seeking clarification on the timing for completion of the inspection and will provide a further update in due course.
In its quarterly production report released earlier this week, Acacia's North Mara saw a a 39% surge in output to 119,113 ounces. Overall, Acacia produced 158,774 in the second quarter ended June.
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 were 1.3% lower on Friday afternoon in London at 182 pence each.
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