Acacia’s gold production ‘beyond expectations’

Dar es Salaam. Acacia Mining’s gold production in the fourth quarter of last year was beyond expectations, the company has said.

But it was below the production of a similar period in 2016, a statement posted on the company’s website on Monday, January 15, shows.

The company reported a production of 148,477 ounces, “driven by a strong operational performance at Buzwagi. “We successfully transitioned Bulyanhulu into a reduced operational state,” the statement quoted Acacia interim CEO Peter Geleta as saying.

During the same period, Acacia sold 147,636 ounces of gold.

Acacia produced 767,883 ounces in 2017, seven per cent lower than that of 2016.

Last year’s sales were down 27 per cent from those of 2016, caused by a ban in concentrate exports.