UK miner Kabanga Nickel has signed a framework agreement with the government of Tanzania to develop the world’s largest battery-grade nickel sulphide deposit in the country’s Northwest. The two parties have created a joint venture company called Tembo Nickel Corp, with Kabanga assuming a leading 84%...
Acacia Mining has revealed that its majority shareholder Barrick Gold has failed to meet a mid-year target for the completion of talks to end a debilitating tax dispute with the government of Tanzania. African gold-focused miner Acacia was accused of significantly under-declaring export revenues for 17...
Tanzania has revoked a retention license for an undeveloped nickel project jointly owned by mining giants Barrick Gold Corp and Glencore. The Kabanga nickel project in Northwestern Tanzania was one of 11 projects that had its retention licenses cancelled by the government under the Mining (Mineral...
Shares in Africa-focused gold miner Acacia Mining jumped 30% on the news that its majority owner Barrick Gold had struck a preliminary deal with the Tanzanian government to resolve an acrimonious dispute. Barrick revealed that it will allow Tanzania to take a 16% stake in three...
Acacia Mining’s production figures were above forecasts but its sales figures were down as it faced the reality of the Tanzania Government’s export ban. The London-listed gold miner, which is 64% owned by Barrick Gold, announced overall third quarter production of 191,203 ounces of gold on...
Acacia Mining (LSE:ACA) has signalled its intention to reduce operational activity at its Bulyanhulu gold mine in Tanzania as it faces up to an export ban. Based on Acacia’s 2017 interim results the company said it will need to consider plugging operational activity and expenditure if...
Acacia Mining’s (LSE:ACA) long-running dispute with Tanzania continues to rumble on with the government now slapping a massive US$190 billion bill on the besieged company. The Tanzanian government sent a $40 billion tax bill, followed by an additional $150 billion in penalties and interest owed, relating...