ABX Barrick Gold Corp. (BC) (delisted)

By Oliver Griffin

Acacia Mining PLC (ACA.LN) said Tuesday that a senior manager of its business in Tanzania has been arrested and charged today by the east-African country's Prevention and Combating of Corruption Bureau.

The mining company said it believes the senior manager, who has pleaded not guilty to all charges, has been charged in connection with some of the 39 criminal charges brought by the PCCB on Wednesday against a current and former employee of Acacia group.

Acacia Mining said the unnamed manager has been charged with various counts of tax evasion, forgery and money laundering, but added that it hasn't seen a copy of the charge sheet.

The company said it noted with concern that offences under Tanzania's anti-money laundering legislation aren't allowed bail and, accordingly, the senior manager hasn't been released.

Acacia Mining said it is "deeply concerned about the increasing risks to the safety and security" of its employees. It believes these recent actions represent a significant escalation of government pressure while a 19-month dispute between Acacia Mining and the country's government remains unresolved.

As before, parent company Barrick Gold Corp. (ABX.T) has yet to provide a proposal for a comprehensive resolution regarding the disputes, the company said.

Acacia Mining continues to reach out to Tanzania's government to try and resolve the dispute and has also informed Barrick of the latest charges, the company said.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

October 23, 2018 10:04 ET (14:04 GMT)

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