THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION
24 May 2017
Acacia Mining plc
LSE:ACA
(“Acacia” or the “Company”)
Further update on the export of
metallic mineral concentrates
Acacia notes the findings of the Presidential Committee’s
investigation into the export of gold/copper concentrates which
were presented to the President of Tanzania H.E. Dr. John P. Magufuli this morning. The Committee has
stated that Acacia has not fully declared all of the minerals
contained in the concentrate and the directive halting the export
of metallic mineral concentrates remains in place.
Acacia has not yet seen a full copy of the report, which states
that the value of minerals within the concentrates in the
containers currently at the Dar es Salaam port is more than 10
times the declared amount. We are seeking a full copy of the report
and further clarification.
Acacia re-iterates that it fully declares everything of
commercial value that we produce and pay all appropriate royalties
and taxes on all of the payable minerals that we produce.
Acacia will provide a further update to the market as soon
as practical.
ENQUIRIES
For further information, please visit our website:
http://www.acaciamining.com/ or contact:
Acacia Mining plc
+44 (0) 20 7129 7150
Giles Blackham, Investor
Relations Manager
Bell Pottinger
+44 (0) 20 3772 2500
Lorna Cobbett
Disclaimer and forward-looking statements
This announcement is for information
purposes only and does not constitute an invitation or offer to
underwrite, subscribe for or otherwise acquire or dispose of any
securities of Acacia in any jurisdiction.
This announcement includes
“forward-looking statements” that express or imply expectations of
future events or results as opposed to historical facts. These
statements include, financial projections and estimates and their
underlying assumptions, statements regarding plans, objectives and
expectations with respect to future production, operations, costs,
projects, and statements regarding future performance.
Forward-looking statements are generally identified by the words
“plans,” “expects,” “anticipates,” “believes,” “intends,”
“estimates” and other similar expressions.
All forward-looking statements
involve a number of risks, uncertainties and other factors, many of
which are beyond the control of Acacia, which could cause actual
results and developments to differ materially from those expressed
in, or implied by, the forward-looking statements contained herein.
Factors that could cause or contribute to differences between the
actual results, performance and achievements of Acacia include, but
are not limited to, changes or developments in political, economic
or business conditions or national or local legislation or
regulation in countries in which Acacia conducts - or may in the
future conduct - business, industry trends, competition,
fluctuations in the spot and forward price of gold or certain other
commodity prices (such as copper and diesel), currency fluctuations
(including the US dollar, South African rand, Kenyan shilling and
Tanzanian shilling exchange rates), Acacia’s ability to
successfully integrate acquisitions, Acacia’s ability to recover
its reserves or develop new reserves, including its ability to
convert its resources into reserves and its mineral potential into
resources or reserves, and to process its mineral reserves
successfully and in a timely manner, Acacia’s ability to complete
land acquisitions required to support its mining activities,
operational or technical difficulties which may occur in the
context of mining activities, delays and technical challenges
associated with the completion of projects, risk of trespass, theft
and vandalism, changes in Acacia’s business strategy and ongoing
implementation of operational reviews, as well as risks and hazards
associated with the business of mineral exploration, development,
mining and production and risks and factors affecting the gold
mining industry in general. Although Acacia’s management believes
that the expectations reflected in such forward-looking statements
are reasonable, Acacia cannot give assurances that such statements
will prove to be correct. Accordingly, investors should not place
reliance on forward-looking statements contained in this
announcement.
Any forward-looking statements in
this announcement only reflect information available at the time of
preparation. Subject to the requirements of the Disclosure and
Transparency Rules and the Listing Rules or applicable law, Acacia
explicitly disclaims any obligation or undertaking publicly to
update or revise any forward-looking statements in this
announcement, whether as a result of new information, future events
or otherwise. Nothing in this announcement should be construed as a
profit forecast or estimate.