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Acacia repositions Buzwagi mine to produce only gold doré

22nd September 2017

By: Creamer Media Reporter

     

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JOHANNESBURG (miningweekly.com) – LSE-listed Acacia Mining will reposition its Buzwagi mine, in Tanzania, to produce only gold doré until the end of its life in 2020.

This follows positive results from a processing trial that indicated that the mine should be able to achieve gold recoveries of about 85% through the additional use of reagents in the leaching circuit at limited additional operating costs.

Buzwagi produces both doré and a gold/copper concentrate, but a government ban on gold and copper concentrate exports has prevented the mine from exporting and selling its concentrate, which accounts for about 65% of the mine’s production.

Acacia said there would be no changes to group production or cost guidance resulting from this processing change; however, Buzwagi would be able to sell an additional 8 000 oz to 10 000 oz a month of gold for the remainder of the year.

“We believe the changes will move the mine from a monthly cashflow negative position to a monthly cashflow positive position, strengthening Acacia’s balance sheet and helping to protect thousands of direct and indirect jobs that the company supports,” it said.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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