Tanzania export ban weighs on Acacia’s Q1 cash flow

The Tanzania Ministry of Energy and Minerals’ decision to introduce a general ban on the export of metallic mineral concentrates has had a $33-million negative impact on Acacia Mining’s cash flow for the first quarter, ended March 31. The Ministry announced the ban on March 3, following a directive from President John Magufuli in an effort to promote the local smelting of concentrates.