13 June 2017

Tanzania: Acacia Wants an Independent Review On Presidential Committees' Findings On Mineral Sands Saga

Photo: Daily News
Acacia Mining Plc.

Dar es Salaam — Acacia Gold Mining PLC has reiterated its call for an independent review to encompass the first and second presidential committee reports on the metallic mineral concentrates.

In a statement posted in the company's website, Acacia insists that the reports have generated inaccurate and unexplainable findings and allegations.

The statement added that the company has called for a resolution of the current situation and lifting of the export ban, which is impacting around 50 per cent of its combined production at Bulyanhulu and Buzwagi Gold mines.

Acacia, which has operated in the country for nearly 20 years, has insisted that it has been a law abiding company that has always declared all materials it has produced and paid all royalties and taxes that are due.

"Our mines are permitted under Tanzanian law to sell their fully declared gold/copper concentrate products to overseas customers and to export the concentrates in containers, and they are in full compliance with Tanzanian law and our export permits," reads the statement in part.

"In addition, our published accounts are annually audited to an international standard in accordance with IFRS (International Financial Reporting Standards)," the statement indicates.

Acacia warns that the continuation of the export ban will not only hurt its ability to conduct future business in the country, but will directly and negatively affect the lives of thousands of Tanzanians.

More on This

Acacia Shares Tumble 8% After Second Report

Acacia share fell by 8.0 per cent yesterday after the second probe team revealed its finding that accused the Dar… Read more »

Copyright © 2017 The Citizen. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.