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Acacia updates on proposed Tanzanian legislative changes

29 June 2017 13:22

Acacia Mining said it has noted the publication of draft legislation which recommends changes to the legal framework governing the natural resources sector in Tanzania.

The Company said it understands that this legislation is to be debated by the Parliament in an extended Parliamentary session.

In addition, Parliament has approved the new Finance Act, which will impose a 1% clearing fee on the value of all minerals exported from the country from the 1st July 2017.

Acacia said it will review the proposed changes in the context of its existing agreements and will provide further updates as appropriate.

Separately, the Company also confirmed that the proposed discussions with the Government of Tanzania regarding the current concentrate export ban have yet to commence.

At 1:22pm: (LON:ACA) Acacia Mining Plc share price was -0.7p at 307.3p

Story provided by StockMarketWire.com

Related Company: ACA

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