ACACIA MINING PLC Update on the export of metallic mineral concentrates

 
TIDMACA 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
24 May 2017 
 
                               Acacia Mining plc 
 
                                    LSE:ACA 
 
                          ("Acacia" or the "Company") 
 
         Further update on the export of metallic mineral concentrates 
 
Acacia notes the findings of the Presidential Committee's investigation into 
the export of gold/copper concentrates which were presented to the President of 
Tanzania H.E. Dr. John P. Magufuli this morning. The Committee has stated that 
Acacia has not fully declared all of the minerals contained in the concentrate 
and the directive halting the export of metallic mineral concentrates remains 
in place. 
 
Acacia has not yet seen a full copy of the report, which states that the value 
of minerals within the concentrates in the containers currently at the Dar es 
Salaam port is more than 10 times the declared amount. We are seeking a full 
copy of the report and further clarification. 
 
Acacia re-iterates that it fully declares everything of commercial value that 
we produce and pay all appropriate royalties and taxes on all of the payable 
minerals that we produce. 
 
 Acacia will provide a further update to the market as soon as practical. 
 
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] 
 
Lorna Cobbett 
 
Disclaimer and forward-looking statements 
 
This announcement is for information purposes only and does not constitute an 
invitation or offer to underwrite, subscribe for or otherwise acquire or 
dispose of any securities of Acacia in any jurisdiction. 
 
This announcement includes "forward-looking statements" that express or imply 
expectations of future events or results as opposed to historical facts. These 
statements include, 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 herein. 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 and 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. Subject to the requirements of the 
Disclosure and Transparency Rules and the Listing Rules or 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. 
 
 
 
END 
 

(END) Dow Jones Newswires

May 24, 2017 05:01 ET (09:01 GMT)