Acacia Mining (LON:ACA), Tanzania’s No.1 gold producer, said Friday production fell sharply again in the second quarter of the year as a long-dragged row with the East African nation’s government over taxes continues to hit the miner’s bottom line.
The company, majority owned by Barrick Gold (TSX, NYSE:ABX), said gold production for the three months to June dropped 36% to 133,778 ounces as operations at two its three mines – Bulyanhulu and Buzwagi – were scaled back.
That means the for the first half of 2018, Acacia’s production has dropped more than 40% to 254,759 ounces when compared to the same period last year.
More to come…
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From:: Mining.com