12 October 2017

Tanzania: Production At Three Acacia Mines 'Ahead of Expectations'

Dar es Salaam — As Barrick Gold Corporation is set to publish its third quarter production and sales results, production at its subsidiary Acacia gold mine was ahead of expectations.

According to a statement posted on the Acacia website, the company produced 191,203 ounces of gold and sold 132,787 ounces of gold during the third quarter from its three mines. Barricks holds 63.9 per cent shares of Acacia's operations.

Production was ahead of expectations at Buzwagi (69,097 ounces), driven by strong grades, with production at North Mara (72,011 ounces) and Bulyanhulu (50,094 ounces).

Read. Gold production at Bulyanhulu mine to be slashed by over half

However, the company notes that production at the mines were impacted by work permit issues and moving to reduced operations respectively.

The statement further indicates that sales were below production due to the ban on the export of gold/copper concentrate produced at Bulyanhulu and Buzwagi from Tanzania.

"Acacia will provide more details within our third quarter results on the October 20, 2017," reads part of the statement.

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