Acacia mining's gold and copper concentrates stored in 277 containers held at the Dar es Salaam port will stay there, the government of Tanzania has said.
The Tax Revenue Appeals Board has supported the government's decision to ban exports of gold and copper concentrates and denied Acacia Mining Plc's plea for resumption of exports.
Terming the appeal "unworthy," the Board said, "We unanimously hold the appeal to be unmeritorious. It is thus dismissed entirely, and each party shall bear own costs," the judgment reads.
Acacia's Bulyanhulu Gold Mine filed an appeal in November 29, 2017 against the government's decision through Tanzania Revenue Authority to seize around 104 containers of gold/copper concentrates at the Dar es Salaam port.
Bulyanhulu claimed that since the gold/copper concentrates containers were already at the port, they should be exported but the appeals board ruled in favour of the taxman.
According to the ruling documents, the mining firm failed to provide evidence of original or certified royalty payment sheets on the minerals other than gold, copper and silver contained in the containers as required under section 52 of the Tax Administration Act
The firm also failed to provide original cash receipts issued upon payment of royalties from all other minerals aside from gold, copper and silver.
Out of the 277 gold/copper concentrate containers the government seized in March 2017, 104 are owned by Bulyanhulu Gold Mine. Tanzania cited false and incorrect export declaration by not including other minerals such as rhodium, iridium sulphur, iron, lithium, berullium and yttebium being one of the reasons to deny the firms the export plea.
According to Acacia, the ban has resulted in unsold concentrate of approximately 186,000 ounces (5,270kg) of gold, 12.1 million pounds (5,480 tonnes) of copper and 159,000 ounces (4,500kg) of silver as of January this year.