Tanzania: Acacia to Reduces Operational Activities At Bulyanhulu Due to Huge Budget Mismatch

Dar es Salaam — Acacia Mining intends to reduce operational activities at its Bulyanhulu Mine due to a $15 million (about Sh33 billion) mismatch between expenditure and income in a month, the company has said, attributing the situation to a ban on export of gold and copper concentrates.

"The impact of the ban, in addition to the deterioration of the current operating environment, has led to negative cash flow of approximately $15 million per month at the mine and thus has made ordinary course operations at Bulyanhulu unsustainable," the statement reads.

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