Acacia Mining (ACA)

Sector:

Mining

Index:

FTSE 250

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170.10p
   
  • Change Today:
    -2.30p
  • 52 Week High: 256.60
  • 52 Week Low: 96.08
  • Currency: UK Pounds
  • Shares Issued: 410.09m
  • Volume: 668,711
  • Market Cap: £697.56m

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 170.10p
Change Today -2.30p
% Change -1.33 %
52 Week High 256.60
52 Week Low 96.08
Volume 668,711
Shares Issued 410.09m
Market Cap £697.56m

Acacia Mining Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
65.60% above the market average65.60% above the market average65.60% above the market average65.60% above the market average65.60% above the market average
52.14% below the sector average52.14% below the sector average52.14% below the sector average52.14% below the sector average52.14% below the sector average
Price Trend
16.17% below the market average16.17% below the market average16.17% below the market average16.17% below the market average16.17% below the market average
16.28% above the sector average16.28% above the sector average16.28% above the sector average16.28% above the sector average16.28% above the sector average
Income
87.17% below the market average87.17% below the market average87.17% below the market average87.17% below the market average87.17% below the market average
73.91% below the sector average73.91% below the sector average73.91% below the sector average73.91% below the sector average73.91% below the sector average
Growth
84.3% below the market average84.3% below the market average84.3% below the market average84.3% below the market average84.3% below the market average
93.44% below the sector average93.44% below the sector average93.44% below the sector average93.44% below the sector average93.44% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 7
Sell 0
Strong Sell 3
Total 13
neutral
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 14-Jun-2019

Time Volume / Share Price
16:35 142,279 @ 170.10p
16:29 130 @ 171.90p
16:29 129 @ 171.90p
16:29 256 @ 171.90p
16:29 233 @ 171.80p

Acacia Mining Key Personnel

CFO Jaco Maritz

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