JOHANNESBURG (miningweekly.com) – Aim-listed Acacia Mining on Friday said it had ceased exports of gold and copper concentrate from its operations in Tanzania, following a directive from the country’s Ministry of Energy and Minerals that all such exports be banned.
In a statement, Acacia said it was urgently seeking further clarification on the ban, with gold and copper concentrate amounting to almost 30% of group revenues.
The Ministry on Friday said gold, copper, nickel and silver exports have been banned with effect from March 2, in a move to ensure mineral value-addition activities are carried out within the country.
This, it added, was emphasised in the Mineral Policy of 2009 and Mining Act of 2010. “Mineral value addition activities will provide employment opportunities, revenues and technology transfer, hence more benefits to the nation,” the Ministry said.
“All companies and individuals who were exporting concentrates and mineral ores to foreign countries for beneficiation, including processing, smelting or refining, will immediately stop, and start doing such activities within the country,” the Ministry noted.
It added that the government of Tanzania would provide any necessary support to stakeholders involved in mineral beneficiation activities within the country, particularly the smelting and refining of minerals.