14 June 2017

Tanzania: No Agreements Made On Mining Row With Tanzanian Government, Says Acacia Mining

Photo: Daily News
Acacia Mining Plc.

Dar es Salaam — Acacia Mining PLC says no agreement has been reached yet with the Tanzanian government over the metallic mineral concentrate controversy.

A statement released 7:50pm on Wednesday following a meeting between Barrick Gold Corporation executive chairman Prof John P. Thornton and President John Magufuli at State House in Dar es Salaam on Wednesday.

After the meeting President Magufuli said Prof Thornton has admitted wrongdoing and agreed to send a team to discuss how to repay the loss the company inflicted on the government, according to a statement released by the State House.

But in its latest statement Acacia said, in fact, that no agreement has been reached.

"As the negotiations have yet to commence, no agreements have been reached, but the negotiations will seek a resolution that is in the best interests of all stakeholders," the press released posted in the company's website noted.

There is an ongoing controversy between the government of Tanzania and Acacia Mining which own three gold mines over the export of mineral concentrates. Two committees formed by President Magufuli this year have claimed that Acacia has been under-declaring the types and value of minerals found in the concentrates. Acacia Mining denies any wrongdoing on the issue and has been calling for independent investigation on the issue. Barrick Gold Corporation is Acacia's majority shareholder


Tanzania Sets U.S$306 Million for Stiegler's Gorge Hydropower Project

The Ministry of Energy has tabled its budget for 2018/19 on Thursday showing that it will spend 98.4 per cent of the… Read more »

See What Everyone is Watching

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.