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Tanzanian Government Accuses Acacia of Mining Gold Illegally

  • Acacia dispute deepens in country where it mines all its gold
  • Barrick unit has said it will have to close mine in country
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Photographer: Andrey Rudakov/Bloomberg
Updated on

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.

An audit ordered by President John Magufuli in March found that Acacia had been conducting business in Tanzania “contrary to the law,” Nehemiah Osoro, chairman of a committee of academics, lawyers and economists that conducted the probe, said at a briefing Tuesday in the commercial capital, Dar es Salaam. The audit covered mineral exports over the past 19 years.