ACCACIA: UPDATE FOLLOWING PRESIDENTIAL COMMITTEE FINDING;

Source: ACCACIA

Further to yesterday’s announcement, Acacia would like to confirm that it is continuing to operate all three of its mines in Tanzania, namely Bulyanhulu, Buzwagi and North Mara. We would also like to confirm that these mines are all owned and operated by companies that are legally incorporated and registered in Tanzania: Bulyanhulu Gold Mine Limited, Pangea Minerals Limited and North Mara Gold Mine Limited, which are the special mining licence holders for each of the respective mines. These companies are indirectly owned by Acacia Mining plc which is a UK incorporated and registered company. This corporate structure is fully transparent, lawful and is disclosed annually in our annual report and accounts which are audited to an international standard in accordance with IFRS and which are publicly available.

 

The Acacia group holding structure was fully disclosed to the Tanzanian Capital Markets and Securities Authority (CMSA) at the time of Acacia’s cross listing on the Dar es Salaam Stock Exchange in 2011. The group structure formed part of the information memorandum approved by the CMSA for the cross listing. Since the cross listing the only change has been the change of Acacia’s name from African Barrick Gold plc to Acacia Mining plc.

 

In addition, and in order to provide clear and factual information around the current situation, Acacia has created a micro-site: http://www.acaciamining.com/export-ban-facts.aspx, which has background to the current situation, clarification around the allegations, and details of our contribution to the Tanzanian economy.

 

Acacia plans to host a call on Thursday 15 June at 09:00 UK time for investors and analysts in order to provide a further update on the situation, with access details below. A recording will be made available on the Company’s website, after the call.

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