March 21, 2017 / 5:26 PM / 2 years ago

Canada's Endeavour Mining ends merger talks with Acacia

(Reuters) - Canadian gold miner Endeavour Mining Corp said on Tuesday it had ended discussions with London-based Acacia Mining Plc regarding a potential merger.

Endeavour, which operates mines in West Africa, had held talks with Acacia earlier in January.

Acacia, which is majority owned by Barrick Gold, also said on Tuesday it had decided not to progress towards a combination of the companies.

Acacia had said in March that it stopped gold and copper concentrate exports from Tanzania following a ban by the government on unprocessed ore, putting nearly a third of its revenue at risk.

Tanzania is Africa’s fourth-largest gold producer and Acacia its largest miner. The miner also has operations in Kenya, Burkina Faso and Mali.

Reporting by John Benny in Bengaluru; Editing by Shounak Dasgupta

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