Acacia Mining (ACA)

Sector:

Mining

Index:

FTSE 250

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259.60p
   
  • Change Today:
      7.80p
  • 52 Week High: 259.60
  • 52 Week Low: 96.08
  • Currency: UK Pounds
  • Shares Issued: 410.09m
  • Volume: 1,008,010
  • Market Cap: £1,064.58m
  • Beta: 0.01

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Acacia's North Mara mine fined over alleged environmental breaches

By Michele Maatouk

Date: Friday 17 May 2019

LONDON (ShareCast) - (Sharecast News) - Acacia Mining said on Friday that its North Mara mine has been issued with a fine for alleged historical breaches of environmental regulations in Tanzania.
The FTSE 250 gold miner said North Mara Gold Mine, the operator of the mine, has received verbal notice from the Government of Tanzania that it is to be issued with an environmental protection order in relation to the alleged historical breaches.

"The mine understands that the GoT is considering issuing an EPO on account of alleged deficiencies at its tailings storage facility, however the mine has not yet received an EPO, or any supporting reports, findings or technical data in relation to the statements attributed to the Minister of State in the vice president's office for union affairs and environment," the company said.

It added that the mine's technical team has been working "constructively and collaboratively" with the GoT to try to address its concerns about the alleged breaches of various environmental regulations and alleged discharges of a hazardous substance from the mine.

In the meantime, operations at North Mara remain unaffected, it said.

RBC Capital Markets said a closure of North Mara on environmental grounds - as previously threatened - is highly unlikely.

"Instead, we expect headline risk to remain relatively elevated for the group as Barrick continues to move towards an agreement on the proposed terms to resolve the outstanding disputes concerning the GoT and Acacia. It is likely both Barrick and the GoT want to avoid an international arbitration process that is set to begin in early Q3. We think in-country 'pressure' tactics on Acacia could increase in the lead-up to this.

"We see risk/reward as balanced here given the lack of visibility on what happens next post theproposed 'deal' from Barrick in February that remains to be finalized with the GoT. Before final details are known and Acacia's independent directors receive and review it is hard to take a view. We see a range of potential outcomes and hence valuations for shares, see our recent note assessing this here."

Acacia is majority-owned by Barrick Gold.





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Acacia Mining Market Data

Currency UK Pounds
Share Price 259.60p
Change Today 7.80p
% Change 3.10 %
52 Week High 259.60
52 Week Low 96.08
Volume 1,008,010
Shares Issued 410.09m
Market Cap £1,064.58m
Beta 0.01

Acacia Mining Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
4.55% below the market average4.55% below the market average4.55% below the market average4.55% below the market average4.55% below the market average
79.83% below the sector average79.83% below the sector average79.83% below the sector average79.83% below the sector average79.83% below the sector average
Price Trend
83.47% above the market average83.47% above the market average83.47% above the market average83.47% above the market average83.47% above the market average
82.68% above the sector average82.68% above the sector average82.68% above the sector average82.68% above the sector average82.68% above the sector average
Income
88.9% below the market average88.9% below the market average88.9% below the market average88.9% below the market average88.9% below the market average
91.67% below the sector average91.67% below the sector average91.67% below the sector average91.67% below the sector average91.67% below the sector average
Growth
83.92% below the market average83.92% below the market average83.92% below the market average83.92% below the market average83.92% below the market average
93.55% below the sector average93.55% below the sector average93.55% below the sector average93.55% below the sector average93.55% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 9
Sell 0
Strong Sell 0
Total 12
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Acacia Mining Dividends

  Latest Previous
  Interim Final
Ex-Div n/a 04-May-17
Paid n/a 31-May-17
Amount 0.000¢ 8.40¢

Trades for 23-Aug-2019

Time Volume / Share Price
16:37 29,913 @ 259.60p
16:35 61,048 @ 259.60p
16:29 350 @ 259.20p
16:29 291 @ 259.20p
16:29 132 @ 259.20p

Acacia Mining Key Personnel

CFO Jaco Maritz

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