13 June 2017
Acacia Mining plc
(“Acacia” or the “Company”)
Update following the Presidential Committee Findings
Further to yesterday’s announcement, Acacia would like to confirm that it is continuing to operate all three of its mines in Tanzania, namely Bulyanhulu, Buzwagi and North Mara. We would also like to confirm that these mines are all owned and operated by companies that are legally incorporated and registered in Tanzania: Bulyanhulu Gold Mine Limited, Pangea Minerals Limited and North Mara Gold Mine Limited, which are the special mining licence holders for each of the respective mines. These companies are indirectly owned by Acacia Mining plc which is a UK incorporated and registered company. This corporate structure is fully transparent, lawful and is disclosed annually in our annual report and accounts which are audited to an international standard in accordance with IFRS and which are publicly available.
The Acacia group holding structure was fully disclosed to the Tanzanian Capital Markets and Securities Authority (CMSA) at the time of Acacia’s cross listing on the Dar es Salaam Stock Exchange in 2011. The group structure formed part of the information memorandum approved by the CMSA for the cross listing. Since the cross listing the only change has been the change of Acacia’s name from African Barrick Gold plc to Acacia Mining plc.
In addition, and in order to provide clear and factual information around the current situation, Acacia has created a micro-site: http://www.acaciamining.com/export-ban-facts.aspx, which has background to the current situation, clarification around the allegations, and details of our contribution to the Tanzanian economy.
Acacia plans to host a call on Thursday 15 June at 09:00 UK time for investors and analysts in order to provide a further update on the situation, with access details below. A recording will be made available on the Company’s website, after the call.
|Participant dial in:||+44 20 3059 8125|
For further information, please visit our website: http://www.acaciamining.com/ or contact:
|Acacia Mining plc||+44 (0) 20 7129 7150|
Giles Blackham, Investor Relations
|Camarco||+44 (0) 20 3757 4980|
Gordon Poole / Billy Clegg / Nick Hennis
About Acacia Mining plc
Acacia Mining plc (LSE:ACA) is Tanzania’s largest gold miner and one of the largest producers of gold in Africa. We have three producing mines, all located in north-west Tanzania: Bulyanhulu, Buzwagi, and North Mara and a portfolio of exploration projects in Tanzania, Kenya, Burkina Faso and Mali.
Our approach is focused on strengthening our three core pillars; our business, our people and our relationships, whilst continuing to invest in our future. Our name change from African Barrick Gold to Acacia in November 2014 reflected a new approach to mining, and an ambition to create a leading African Company.
Acacia is a UK public company headquartered in London. We are listed on the Main Market of the London Stock Exchange with a secondary listing on the Dar es Salaam Stock Exchange. Barrick Gold Corporation is our majority shareholder. Acacia reports in US dollars and in accordance with IFRS as adopted by the European Union, unless otherwise stated in this announcement.
Disclaimer and forward-looking statements
This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of Acacia in any jurisdiction.
This announcement includes “forward-looking statements” that express or imply expectations of future events or results as opposed to historical facts. These statements include, financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future production, operations, costs, projects, and statements regarding future performance. Forward-looking statements are generally identified by the words “plans,” “expects,” “anticipates,” “believes,” “intends,” “estimates” and other similar expressions.
All forward-looking statements involve a number of risks, uncertainties and other factors, many of which are beyond the control of Acacia, which could cause actual results and developments to differ materially from those expressed in, or implied by, the forward-looking statements contained herein. Factors that could cause or contribute to differences between the actual results, performance and achievements of Acacia include, but are not limited to, changes or developments in political, economic or business conditions or national or local legislation or regulation in countries in which Acacia conducts - or may in the future conduct - business, industry trends, competition, fluctuations in the spot and forward price of gold or certain other commodity prices (such as copper and diesel), currency fluctuations (including the US dollar, South African rand, Kenyan shilling and Tanzanian shilling exchange rates), Acacia’s ability to successfully integrate acquisitions, Acacia’s ability to recover its reserves or develop new reserves, including its ability to convert its resources into reserves and its mineral potential into resources or reserves, and to process its mineral reserves successfully and in a timely manner, Acacia’s ability to complete land acquisitions required to support its mining activities, operational or technical difficulties which may occur in the context of mining activities, delays and technical challenges associated with the completion of projects, risk of trespass, theft and vandalism, changes in Acacia’s business strategy and ongoing implementation of operational reviews, as well as risks and hazards associated with the business of mineral exploration, development, mining and production and risks and factors affecting the gold mining industry in general.
Although Acacia’s management believes that the expectations reflected in such forward-looking statements are reasonable, Acacia cannot give assurances that such statements will prove to be correct. Accordingly, investors should not place reliance on forward-looking statements contained in this announcement. Any forward-looking statements in this announcement only reflect information available at the time of preparation. Save as required under the Market Abuse Regulation or otherwise as may be required under applicable law, Acacia explicitly disclaims any obligation or undertaking publicly to update or revise any forward-looking statements in this announcement, whether as a result of new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast or estimate and no statement made should be interpreted to mean that Acacia’s profits or earnings per share for any future period will necessarily match or exceed its historical published profits or earnings per share.