JOHANNESBURG (miningweekly.com) – LSE-listed Acacia Mining’s Tanzanian operations are continuing to operate normally, while a second Presidential Committee nears completion of its investigation into economic and legal issues associated with historic exports of gold and copper concentrates.

Tanzania’s Ministry of Energy and Minerals on March 2 issued a directive banning the export of all gold, copper, nickel and silver concentrates in an effort to encourage local beneficiation.

The government has also instituted investigations into the export of such mineral concentrates.

The first Presidential Committee, which had been tasked with investigating if mining companies were paying their fair share of taxes, last month released its findings, stating that Acacia had not fully declared all minerals contained in concentrate.

Acacia has disputed the committee’s findings, stating that, based on more than 20 years of data, it could not reconcile these with the findings of the committee.

“This historical data has been compiled and analysed by Tanzanian and international experts and organisations, with consistent results . . . and has consistently shown the gold content of the concentrates is less than one tenth of the committee’s findings,” Acacia said in a statement on May 26.

It further noted that if the committee’s published findings were based on accurate data, the Bulyanhulu and Buzwagi mines would be the world’s two largest gold producers.

“Given the magnitude of this discrepancy, we believe there should be an independent review of the content of the concentrates,” it said at the time.

Acacia on Friday said it continues to cooperate with the second Presidential Committee.

“We have provided extensive information to this committee and have provided access to each of our mine sites. 

“We remain hopeful that we will be able to reach a resolution to the current situation with the government so that we can continue to deliver a strong performance from our mines for the benefit of all stakeholders,” it added.

The company’s mines continue to produce and sell gold doré, while stockpiling gold and copper concentrate.