ACACIA MINING PLC Operations Update

 
TIDMACA 
 
16 September 2016 
 
                               Acacia Mining plc 
 
                                    LSE:ACA 
 
                          ("Acacia" or the "Company") 
 
                               Operations Update 
 
During the third quarter, Acacia undertook a planned two-week shutdown of the 
vertical shaft at Bulyanhulu to refurbish and modernise the production and 
service winders. In parallel with this, we undertook a programme of works on 
the process plant over a similar time frame. 
 
The planned maintenance was concluded successfully and we recommenced full 
scale hoisting in early September, however we have not been able to run the 
plant consistently since the shutdown due to repeated overheating of the ball 
mill trunnion bearing. A team of specialists is working with personnel on site 
in order to establish the root cause of the problem and a timeline for resuming 
normal operations. 
 
Whilst the plant has been down, we have built a surface stockpile of 11,300 
ounces, with a further 7,400 ounces in stockpiles underground. We have put 
stoping operations on hold until the plant is running and providing consistent 
paste fill. The treatment of reclaimed tailings will continue, as will 
underground development and drilling activities. 
 
Due to strong performance quarter to date at North Mara, we continue to expect 
Q3 production to be broadly in line with Q1 2016, as guided at the interim 
results. At this stage, full year guidance for both Bulyanhulu and Acacia 
remain unchanged and we will update the market as appropriate. 
 
ENQUIRIES 
 
For further information, please visit our website: http://www.acaciamining.com/ 
or contact: 
 
Acacia Mining plc                      [phone] 
 
Giles Blackham, Investor Relations Manager 
 
Bell Pottinger                          [phone] 
 
Daniel Thöle 
 
About Acacia Mining plc 
 
Acacia Mining plc (LSE:ACA) is Tanzania's largest gold miner and one of the 
largest producers of gold in Africa. We have three producing mines, all located 
in north-west Tanzania: Bulyanhulu, Buzwagi, and North Mara and a portfolio of 
exploration projects in Tanzania, Kenya, Burkina Faso and Mali. 
 
Our approach is focused on strengthening our three core pillars; our business, 
our people and our relationships, whilst continuing to invest in our future. 
Our name change from African Barrick Gold to Acacia in November 2014 reflected 
a new approach to mining, and an ambition to create a leading African Company. 
 
Acacia is a UK public company headquartered in London. We are listed on the 
Main Market of the London Stock Exchange with a secondary listing on the Dar es 
Salaam Stock Exchange. Barrick Gold Corporation is our majority shareholder. 
Acacia reports in US dollars and in accordance with IFRS as adopted by the 
European Union, unless otherwise stated in this announcement. 
 
Disclaimer and forward-looking statements 
 
This announcement includes "forward-looking statements" that express or imply 
expectations of future events or results. Forward-looking statements are 
statements that are not historical facts. These statements include, without 
limitation, financial projections and estimates and their underlying 
assumptions, statements regarding plans, objectives and expectations with 
respect to future production, operations, costs, projects, and statements 
regarding future performance. Forward-looking statements are generally 
identified by the words "plans," "expects," "anticipates," "believes," 
"intends," "estimates" and other similar expressions. 
 
All forward-looking statements involve a number of risks, uncertainties and 
other factors, many of which are beyond the control of Acacia, which could 
cause actual results and developments to differ materially from those expressed 
in, or implied by, the forward-looking statements contained in this 
announcement. Factors that could cause or contribute to differences between the 
actual results, performance and achievements of Acacia include, but are not 
limited to, changes or developments in political, economic or business 
conditions or national or local legislation or regulation in countries in which 
Acacia conducts - or may in the future conduct - business, industry trends, 
competition, fluctuations in the spot and forward price of gold or certain 
other commodity prices (such as copper and diesel), currency fluctuations 
(including the US dollar, South African rand, Kenyan shilling and Tanzanian 
shilling exchange rates), Acacia's ability to successfully integrate 
acquisitions, Acacia's ability to recover its reserves or develop new reserves, 
including its ability to convert its resources into reserves and its mineral 
potential into resources or reserves, and to process its mineral reserves 
successfully and in a timely manner, Acacia's ability to complete land 
acquisitions required to support its mining activities, operational or 
technical difficulties which may occur in the context of mining activities, 
delays and technical challenges associated with the completion of projects, 
risk of trespass, theft and vandalism, changes in Acacia's business strategy 
including, the ongoing implementation of operational reviews, as well as risks 
and hazards associated with the business of mineral exploration, development, 
mining and production and risks and factors affecting the gold mining industry 
in general. Although Acacia's management believes that the expectations 
reflected in such forward-looking statements are reasonable, Acacia cannot give 
assurances that such statements will prove to be correct. Accordingly, 
investors should not place reliance on forward-looking statements contained in 
this announcement. 
 
Any forward-looking statements in this announcement only reflect information 
available at the time of preparation. Save as required under the Market Abuse 
Regulation or otherwise under applicable law, Acacia explicitly disclaims any 
obligation or undertaking publicly to update or revise any forward-looking 
statements in this announcement, whether as a result of new information, future 
events or otherwise. Nothing in this announcement should be construed as a 
profit forecast or estimate and no statement made should be interpreted to mean 
that Acacia's profits or earnings per share for any future period will 
necessarily match or exceed the historical published profits or earnings per 
share of Acacia. 
 
 
 
END 
 

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September 16, 2016 02:00 ET (06:00 GMT)