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Company News

BUZZ-Acacia: Tanzania troubles hit 2017 results

** Miner Acacia Mining slips over 3 pct on Monday after co scraps dividend, gold production comes in 7 percent lower

** Co, majority owned by Barrick Gold, says 2017 EBITDA down 38 pct

** Shares top faller on FTSE 250 index

** Co says core earnings hit by a ban on unprocessed mineral exports in Tanzania

** Co says Tanzania’s on-going ban on exporting gold/copper concentrate resulted in about $264 mln of lost revenue in 2017

** Tanzania govt accuses Acacia of understating its gold shipments; Acacia has denied the allegations

** Stock underperforming FTSE 350 Mining Index; only miner in red (rahul.b.thomsonreuters.com@reuters.net)

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