Type Public (LSE: ACA) Website www.acaciamining.com/ Revenue 868.1 million USD (2015) | Industry Gold mining Headquarters London, United Kingdom Founded 2000 | |
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Key people Kelvin Dushnisky, Chairman
Bradley Gordon, CEO Operating income Net income US$(197.1) million (2015) Stock price ACA (LON) 536.11 GBX -4.89 (-0.90%)28 Feb, 5:09 PM GMT - Disclaimer | ||
Acacia Mining (formerly African Barrick Gold plc) is a gold mining business operating in Tanzania, with exploration properties in Kenya, Burkina Faso and Mali. It is listed on the London Stock Exchange and the Dar es Salaam Stock Exchange under the ticker ACA, and is a constituent of the FTSE 250 Index. Acacia's majority shareholder is Barrick Gold, which owns 63.9% of the company.
Contents
History
The business was established as a unit of Barrick Gold when that company started mining in Tanzania in 2000. Barrick's involvement in Tanzania had begun the previous year, when the company purchased the Bulyanhulu property as part of its acquisition of Sutton Resources Ltd. Barrick then acquired Buzwagi and Tulawaka as part of its acquisition of Pangea Goldfields Inc. in 2000. Finally, in 2006, Barrick acquired North Mara, when it took over Placer Dome. The company was floated off by Barrick Gold and first listed on the London Stock Exchange as African Barrick Gold in 2010. The company changed its name to Acacia Mining on 27 November 2014.
Operations
The Company operates three mines in northwest Tanzania—Bulyanhulu, Buzwagi and North Mara.
Bulyanhulu Gold Mine
The Bulyanhulu Gold Mine is an underground gold mine in the Shinyanga Region of Tanzania, located 55 kilometres south of Lake Victoria. Barrick acquired the project in 1999 when it purchased Sutton Resources and the mine opened in 2001. The opening of Bulyanhulu, Tanzania's deepest mine, made Tanzania the third largest producer of gold in Africa.
Buzwagi Gold Mine
The Buzwagi Gold Mine is an open pit gold mine in the Shinyanga Region of Tanzania, located 6 kilometres southeast from the town of Kahama. The mine, which opened in 2009, is the second largest mining operation and the largest single open pit mine in Tanzania.
North Mara Gold Mine
The North Mara Gold Mine is an open pit gold mine in the Tarime District of the Mara Region of Tanzania. The mine, which opened in 2002, was acquired by Barrick through the takeover of Placer Dome in 2006.