Tanzania Slaps Huge Tax Bill on Acacia

The government of Tanzania has sent Acacia Mining a bill of $190 billion in unpaid taxes and fines for years 2000 to 2017. This comes after the government alleged Acacia underdeclared export revenues. Bulyanhulu Gold Mine Ltd. and Pangea Minerals Ltd., the owners and operators of the Bulyanhulu and Buzwagi mines, respectively, received a series of Notices of Adjusted Assessment from the Tanzania Revenue Authority for historical corporate income tax, covering the periods 2000 to 2017 for Bulyanhulu Gold Mine and 2007 to 2017 for Pangea Minerals. The assessments follow on the findings of the First Presidential Committee, which were announced on May 24 and the Second Presidential Committee announced on June 12

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AngloGold Starts Process to Shut Down 2 Mines

AngloGold Ashanti announced on June 28 that it was beginning a consultation process with employees in terms of section 189 and 189A of South Africa’s Labour Relations Act that would lead to placing its Kopanang gold mine and the Savuka section of its TauTona gold mine on care and maintenance.

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