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The accusation is the latest sign of deteriorating relations between Acacia and the country where it mines all its gold. Last month, a Tanzanian presidential committee investigating the export of gold and copper concentrates, a semi-processed form of ore, said that Acacia hasn’t fully declared all the minerals contained in its concentrate
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Tanzania’s government accused Acacia Mining Plc of operating illegally in the East African country and said mining companies have been evading taxes. Acacia’s shares slumped
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Tanzania accuses Acacia of export fraud The Tanzanian president has accused Acacia Mining (LN:ACA) of hiding tonnes of gold and copper exports as a concentrate export ban imposed abruptly in March
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BL PREMIUM. 12 June 2017 - 17:48 Agency Staff. Dar es Salaam — Tanzania’s government accused Acacia Mining of operating illegally in the East African country and said mining companies have
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Shares in gold miner Acacia Mining tumbled once again after the government of Tanzania accused it of tax evasion stretching back years. The FTSE 250 company noted the “disappointing findings
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ACACIA Mining Plc has announced plans to cut possibly hundreds of jobs at the Bulyanhulu gold mine - its biggest mining operation in Tanzania - as it looks to make savings in the face of mounting losses from the ongoing export ban on gold and copper concentrates.According to Acacia, the export ban announced by the government back in March has resulted in a "negative cash flow"
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The government enters an ongoing dispute with Barrick Gold’s Acacia Mining, one of the biggest foreign investors. Tanzania accuses the company, among other things, of owing the government $190bn
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Jul 17, 2019 · In 2017, the Tanzanian government accused Acacia of US$200-billion in tax fraud and banned it from exporting gold concentrate. Tanzania has refused, for the most part, to even engage with Acacia
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Jun 24, 2017 · The committees appointed by the president to carry out these investigations accused Acacia Mining of massively understating the amount of gold and other minerals present in the exported concentrates, thus depriving Tanzania of a huge amount of revenue—to the tune of three years’ worth of the national budget
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Jul 13, 2017 · Changes in legislation spell trouble for Tanzania's mining sector. ... Tanzania accuses Acacia of illegal gold mining. ... Opinion / Columnists
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Mar 18, 2021 · Tanzania accuses gold mining company Acacia Mining of owing $190 billion in unpaid taxes and shuts down its right to export gold ore concentrate. Tanzania and Barrick later agree to a $300 million payment to resolve the tax demand. In July, Tanzania passes new mining laws giving the state 16 percent of equity in mining projects
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Oct 19, 2017 · BARRICK Gold has agreed to share equally the “economic benefits” generated by the mines of its 63.9%-held listed subsidiary, Acacia Mining, with the Tanzanian government to which it will also pay $300m in part payment – described as a goodwill gesture – for outstanding tax allegedly owed to the East African country by Acacia.. Styled as “modern, 21st century partnership”, Barrick
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Jun 17, 2020 · By Nuzulack Dausen and Helen Reid. DAR ES SALAAM (Reuters) - Three employees of Acacia Mining, a former Barrick Gold (TO: ABX) unit, have been released from jail in Tanzania
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Mar 17, 2021 · The tax dispute with Acacia Mining, accused of having significantly undervalued its gold production for years, finally resulted in an agreement: Tanzania obtains 16% of the shares in the mines held by the multinational.[28] In May 2020, Acacia Mining paid $100M to the government to end dispute as the first tranche of the $300M
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Mar 19, 2019 · Tanzania has also been locked in a prolonged conflict with London-listed Acacia Mining after authorities banned exports of gold and copper concentrates and accused
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Aug 04, 2021 · Janes | The latest defence and security news from Janes - the trusted source for defence intelligence
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Aug 07, 2021 · Olympic glory Scottish cyclist Chris Hoy, left, becomes GB’s top gold medal-winning athlete, picking up his sixth at the London Games. 23 years ago…Embassy attacks At least 200 people die when US embassies in Kenya and Tanzania are bombed by Islamic terrorists. 28 years ago…Palace opens For the first time the Queen opens up Buckingham
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