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Acacia Mining faces further legal action with 3 Tanzanian units charged

Acacia Mining PLC said Oct. 17 that in addition to the two employees previously arrested, three of its Tanzanian subsidiaries were charged with numerous offenses by the Tanzanian Prevention and Combating of Corruption Bureau, including breaches of the Tanzanian Anti-Money Laundering Act.

The three subsidiaries are Pangea Minerals Ltd., Bulyanhulu Gold Mine Ltd. and North Mara Gold Mine Ltd.

The 39 charges brought against the subsidiaries and employees mainly relate to the historical structuring and financing of the three units before the Acacia Group's creation in 2010 but also include tax evasion, conspiracy, organized crime, forgery, money laundering and corruption.

The three subsidiaries and the two employees have pleaded not guilty to all charges.

Acacia Mining noted that most of the issues now subject to criminal proceedings were already being considered in international arbitration related to its 19-month dispute regarding its Bulyanhulu and Buzwagi gold mines in the country.

The company plans to engage parent Barrick Gold Corp. to define how the recent developments will be incorporated in its direct discussions with the Tanzanian government.