{"id":6262,"date":"2018-04-19T14:00:02","date_gmt":"2018-04-19T18:00:02","guid":{"rendered":"http:\/\/lifeinsurance-orleans.ca\/Life-Insurance-Blog\/?guid=b38ffa5127cb8fa5f3fbe85321700470"},"modified":"2018-04-19T14:00:02","modified_gmt":"2018-04-19T18:00:02","slug":"acacia-mining-production-drops-45-per-cent-as-tanzania-troubles-persist","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2018\/04\/19\/acacia-mining-production-drops-45-per-cent-as-tanzania-troubles-persist\/","title":{"rendered":"Acacia Mining production drops 45 per cent as Tanzania troubles persist"},"content":{"rendered":"<p>TORONTO &#8212; A subsidiary of Toronto-based Barrick Gold Corp. says gold production at its Tanzanian operations plunged 45 per cent last quarter as it grappled with export restrictions from the country.<\/p>\n<p>London-based miner Acacia Mining, owned 64 per cent by Barrick, says the drop in production resulted from reduced operations at its Bulyanhulu mine and producing mostly from lower-grade stockpiles at its Buzwagi mine.<\/p>\n<p>Production totalled 120,981 ounces for the quarter ending March 31, down from the 219,670 ounces the company produced last year.<\/p>\n<p>Acacia reduced production at both mines after the Tanzanian government imposed export restrictions on gold and copper, while the company is also still facing a potential $240-billion tax bill from government.<\/p>\n<p>Barrick Gold said last October that it had negotiated a deal with the Tanzanian government that would include profit sharing and a $380 million goodwill payment, but discussions on a potential resolution continue.<\/p>\n<p>The company&#8217;s production was in line with the lowered guidance it posted earlier this year, when it announced an $815 million impairment charge on the complications.<\/p>\n<p>Companies in this story: (TSX:ABX)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO &mdash; A subsidiary of Toronto-based Barrick Gold Corp. says gold production at its Tanzanian operations plunged 45 per cent last quarter as it grappled with export restrictions from the country. London-based miner Acacia Mining, owned 64 per cent by Barrick, says the drop in production resulted from reduced operations at its Bulyanhulu mine and [&hellip;]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6262"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=6262"}],"version-history":[{"count":1,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6262\/revisions"}],"predecessor-version":[{"id":6263,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6262\/revisions\/6263"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=6262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=6262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=6262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}