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Investors yesterday dumped mining stocks as the future of coal looks bleak during the first day of trading on the London Stock Exchange since the COP26 agreement was signed over the weekend. Several big names saw falls, including Evraz down 16.8p at 603.2p; BHP down 37.4p at 1923.4p; Antofagasta down 28p at 1,460p and Anglo [...]
Shareholders in Acacia Mining have clubbed through a suggestion to sell the business to its biggest part-owner Barrick Gold, a move which could end a two-year standoff with the Tanzanian government. Investors owning more than 99.9 per cent of the shares in Acacia voted for the proposal at a meeting starting midday today. It means [...]
Two major proxy advisers have lent their support to Barrick Gold as it waits for Acacia Mining’s shareholders to vote on its takeover bid. Glass Lewis and ISS have in recent days both thrown their weight behind the bid, saying it represents the best value for Acacia’s long-suffering shareholders. Read more: Tanzania allows Acacia to [...]
The Tanzanian government today lifted a ban which stopped Acacia Mining from exporting gold from its biggest mine, as a dispute between the two sides continues. The gold miner was slapped with the ban a month ago, facing claims that it had broken mining regulations in the country. Read more: Acacia accepts increased takeover bid [...]
The government of Tanzania has told Acacia Mining to stop using a mining waste facility at one of its gold mines, as a tax dispute between the two drags on. The Tanzanian National Environment Management Council shut down the facility after the authorities found seepage coming from the site. Read more: Deadline extended for Barrick’s [...]
Acacia Mining today hit out at its largest shareholder Barrick Gold for keeping it frozen out of negotiations with the Tanzanian government, after the Canadian giant yesterday revealed it was mulling a bid to take Acacia private. Barrick said last night it has presented a proposal to Acaica’s board to take the London-listed miner off [...]
Gold miner Acacia disappointed investors today, sending shares down more than seven per cent, as two major mishaps hit production. Gold output dropped 13 per cent year-on-year to 105,000 ounces as part of the ground gave way at its Gokona underground mine in North Mara, Tanzania. Read more: Shareholder reaches deal with Tanzania over Acacia [...]
By Graeme Evans from interactive investor. The FTSE 100 outperformed mid-caps last tax year, but the top FTSE 350 performers might surprise you. Take a look at the financial year ended on the 5th April, with the 25 top performing stocks in the FTSE 350 all producing gains of 40 per cent or more over the [...]
London’s miners dragged the stock exchange upwards this morning after Brazilian iron giant Vale announced another output cut over the weekend. The company, which is in crisis after one of its dams burst leaving over 300 people dead or missing, said a court had ordered it to stop operating the Timbopeba mine in Minas Gerais [...]
Acacia Mining saw the light today as its largest shareholder Barrick Gold said it had reached a proposal with the Tanzanian government over a longstanding spat. The deal would see Acacia sharing half the economic benefits of their operations in the country with the regime. Read more: Acacia boss: 'No winners' from spat with Tanzanian [...]
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