JOHANNESBURG (miningweekly.com) – Tanzanian gold miner Acacia Mining is considering the possible sale of a stake in some or all of its Tanzanian operations.
“The company is engaging with a small number of potential investors, the process remains at a very early stage and there can be no certainty that an agreement will be reached. Acacia Mining confirms that it has not received an approach from any third parties to acquire shares in the company,” it said in a release.
Acacia continues to support the ongoing negotiations between the Government of Tanzania and Barrick Gold – Acacia’s majority shareholder – to identify a detailed proposal to present to Acacia for review.
“Acacia remains committed to shareholder value and evaluates all opportunities against strict strategic and financial criteria. Any transaction will be pursued only if it is determined by the board to be in the best interests of all shareholders.”
Acacia Mining has three producing gold mines in north-west Tanzania, but its operations in the country have been severely impacted on by a ban on the export of gold and copper ore.