13 June 2017
Acacia Mining plc
LSE:ACA
(“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 |
Password: |
Acacia Mining |
ENQUIRIES
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.