Acacia pulls back from Bulyanhulu

Mining.com reports that Acacia Mining will reduce operational activity at the Bulyanhulu Gold Mine in Tanzania. “The decision was driven by unsustainable cash outflows at the mine due to the concentrate ban and the operating environment,” officials said in a statement.

Acacia is in the midst of a bitter dispute with the Eastern African country’s government, whose mining authorities imposed a ban on exports of unprocessed ore to encourage the construction of a local smelter. The move, which took place in early March, prompted a collapse of the London-listed firm’s stock value.

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