8 March 2019
Acacia Mining
plc
LSE:ACA
(“Acacia” or the “Company”)
Statement on North Mara
Acacia notes media reports that the Government of Tanzania (“GoT”) has directed the North Mara
mine (“the Mine”) to resolve an incident that resulted in the
spillage of water into the local environment. The spillage
resulted from a security incident in which sections of the pipe
used to transport water from the polishing pond to the Tailing
Storage Facility (“TSF”) were either vandalised or stolen.
The incident led to the switching off of the pump used to transport
water to the TSF, and the water level in the polishing pond
subsequently overflowed. Following the Mine’s remedial
actions, the temporary overspill from the pond has been
stopped.
The Mine has welcomed the support of the Government on resolving
this issue, and is working closely with the authorities to
implement improvements to security measures around the polishing
pond in order to help prevent any reoccurrence.
Acacia further notes that the Mine’s technical team is currently
working with the GoT within an agreed timeframe to address their
concerns regarding seepage from the TSF, as previously disclosed on
10 January 2019. The Mine has undertaken to manage all
seepage through the use of additional pumps and construction of
other containment facilities to return any seepage to the TSF and
ensure it is confined to the mine site. All seepage will be
contained on the site, not flow into the surrounding environment or
present a risk of contamination to any public water source.
In January 2019, the Government
issued a directive to the Mine to construct a new TSF. The
Mine has commenced planning and design for a new TSF, and is
working with the Government to progress the construction of a new
TSF to support its future mine production plans.
Operations at the Mine remain unaffected. Acacia will provide
further updates as required.
ENQUIRIES
For further information, please visit our website:
http://www.acaciamining.com/ or contact:
Acacia Mining plc |
+44 (0) 20 7129 7150 |
Sally Marshak, Head of Investor
Relations and Communications
Camarco |
+44 (0) 20 3757 4980 |
Gordon Poole / Nick Hennis
About ACACIA
Acacia Mining plc (LSE:ACA) is the UK
holding company of the Acacia Group, Tanzania’s largest gold miner
and one of the largest producers of gold in Africa. The Acacia Group has three mines, all
located in north-west Tanzania:
Bulyanhulu, which is owned and operated by Bulyanhulu Gold Mine
Limited, Buzwagi, which is owned and operated by Pangea Minerals
Limited and North Mara, which is owned and operated by North Mara
Gold Mine Limited. The Acacia Group also has a portfolio of
exploration projects in Kenya,
Burkina Faso and Mali. Acacia Mining plc is a UK public company
headquartered in London. It is
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 the majority shareholder of Acacia Mining plc.
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.