Acacia's largest gold mine in Tanzania, North Mara, approved for export

SMM8, 13 March -: Acacia Mining has recently been allowed to resume gold exports from the North Mara project in Tanzania, after the Mining Committee of the Ministry of Mining of Tanzania asked the company to stop shipping from the North Mara gold mine and asked Acacia to stop using tailings storage facilities.

Acacia has been engaged in a public struggle with the government of Tanzania since 2017, when Tanzania imposed an export ban on Acacia and imposed a $190 billion tax bill on companies, mainly because the company lied about the amount of gold it sold overseas. The tax bill was later reduced to $300 million.

This also prompted Acacia and Barrick Gold (Barrick Gold) to successfully reach an acquisition agreement last month. Acacia said the agreement would help Barrick Gold reach a settlement with the government of Tanzania and bring the company's operating environment back to normal.

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