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Tanzania accuses Acacia Mining of illegal mining

Staff Writer | June 13, 2017
The government of Tanzania accused Acacia Mining of operating illegally in the country and said it has evaded taxes for years.
Acacia Mining Tanzania
Africa   A second special committee
A second special committee appointed by Tanzania’s President John Magufuli found that Acacia, majority owned by Barrick Gold — the world’s largest producer of the precious metal—, was not registered in the country.

It also alleged that Acacia has “under-declared” revenues and tax payments “over a number of years by tens of billions of US dollars,” local paper The Citizen reported.

As a result, the commission recommended that Tanzania demand the repayment of outstanding taxes, review the possibility of increasing government ownership of mines, and continue with an export ban on gold concentrate affecting the company.

Such prohibition was imposed on Acacia Mining at the start of March, when the president ordered a probe into metal exports in an attempt to capture more of the value from mining for the country.