Acacia Mining hits back at parent Barrick in Tanzania row GlobeBusiness
Acacia has been caught up in sweeping changes to Tanzania’s mining industry.
Barrick CEO Mark Bristow said in a results presentation on Wednesday that Acacia was not co-operating, prompting Acacia to demand clarification from Barrick. “Barrick’s intervention at such an early stage of the dispute when Acacia was talking to the government of Tanzania undermined Acacia’s status, put both Acacia and Barrick into a difficult position and added a level of complexity that was unhelpful to an expedient resolution to the dispute. These are the facts and one cannot deny this,” Geleta said.
On Thursday, it announced gold output at its North Mara mine in Tanzania had risen 54 per cent from the same time a year ago, helping to drive its share price 3 per cent higher.
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