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Acacia monitoring impact of new Tanzania legislation

14 July 2017 08:20

Acacia Mining has noted the publication in Tanzania's official Government Gazette of new legislation governing the natural resources sector.

It said that of the legislation passed, the Written Laws Miscellaneous Amendment Act, being an amendment Bill to the 2010 Mining Act, was now in force and was being applied by Tanzanian authorities.

Acacia said it continued to monitor the impact of the new legislation in light of its mineral development agreements with the government but to minimise further disruptions to operations it would, in the interim, satisfy the requirements imposed as regards the increased royalty rate applicable to metallic minerals such as gold, copper and silver of 6% (increased from 4%) in addition to the recently imposed 1% clearing fee on exports.

At 8:20am: (LON:ACA) Acacia Mining Plc share price was -2.9p at 279p

Story provided by StockMarketWire.com

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