Acacia Mining: Tanzania Government Orders Halt at North Mara Mine
July 17 2019 - 3:49AM
Dow Jones News
By Carlo Martuscelli
Acacia Mining PLC (ACA.LN) said Wednesday that the government of
Tanzania has ordered operations to stop at the North Mara mine due
to seepage from its tailings storage facility.
The U.K.-listed miner said that the government had issued a
prohibition notice, which gives it until July 20 to halt work at
the project. The order would stay in place until Tanzania's
National Environment Management Council was satisfied that any
leakages have been stopped.
Acacia said is now seeking clarification from authorities about
the prohibition order. In May, the North Mara mine was fined over
alleged problems at the tailings, or mining waste, facility. The
company said that it has never received any technical data or
reports regarding the allegations.
"All seepage is and will be contained on the site, does not flow
into the surrounding environment or present a risk of contamination
to any public water source," the company said.
Acacia also said that its Tanzania subsidiaries, Bulyanhulu Gold
Mine Ltd. and Pangea Minerals Ltd., have requested a stay to their
international arbitration case with the government. It asked it be
postponed in order to provide time for Barrick Gold Corp.
(ABX.T)--which holds a 64% stake in the company and is in talks to
buy it--to complete its settlement discussions with the government
of Tanzania.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
July 17, 2019 03:34 ET (07:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Barrick Gold (NYSE:GOLD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Barrick Gold (NYSE:GOLD)
Historical Stock Chart
From Apr 2023 to Apr 2024