May 25, 2017 / 8:12 PM / 5 months ago

Barrick flags potential impact from Tanzania export ban

TORONTO (Reuters) - Barrick Gold said on Thursday that two mines at its majority-held Acacia Mining, which account for some 6 percent of Barrick’s 2017 production guidance, are impacted by Tanzania’s current concentrate export ban.

Barrick, which holds a 63.9-percent stake in Acacia, said that if Acacia needed to revise its 2017 forecast, then Barrick would evaluate any necessary adjustments to its own full-year outlook.

In total, Acacia accounts for approximately 10 percent of Barrick’s 2017 gold production guidance of 5.3-5.6 million ounces of gold.

Toronto-based Barrick said its current full-year forecast includes a contribution of 545,000-575,000 ounces of gold from Acacia, at an all-in sustaining production cost of $880-$920 per ounce of gold.

Reporting by Susan Taylor; Editing by Sandra Maler

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