trending Market Intelligence /marketintelligence/en/news-insights/trending/-4yiuaoOkGtn7hVnkuJleQ2 content esgSubNav
In This List

Acacia confirms Chinese interest in Tanzania gold assets

Blog

Post COVID-19: Gold Mining and Production

Blog

Metals & Mining Insights May 2021

Blog

European Energy Insights - May 2021

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective


Acacia confirms Chinese interest in Tanzania gold assets

Acacia Mining plc confirmed media reports that Chinese buyers are interested in its Tanzanian assets, amid talks with the government to resolve outstanding issues that have forced it to idle production, crippling its cash flow.

In response to the reports, Acacia, which is majority owned by Barrick Gold Corp., said Feb. 16 that it had received expressions of interest from Chinese parties in some or all of its Tanzanian operations.

Reuters reported the same day that Zijin Mining Group Co. Ltd. and Shandong Gold Mining Co. Ltd. were separately negotiating with Acacia to form joint ventures and that Barrick was involved in the discussions, citing three anonymous sources.

A Barrick spokesperson declined to comment.

Barrick President Kelvin Dushnisky said Feb. 15 that he hoped negotiations over Acacia would be resolved by midyear.