Acacia Mining sees 40 percent boost from mine extension | Reuters – Reuters

Posted: February 15, 2017 at 6:45 am

LONDON Feb 14 Tanzanian gold producer Acacia Mining said 2017 production would be lifted 40 percent by a mine life extension at Buzwagi following a strong 2016 when EBITDA (earnings before interest, tax, depreciation and amortisation) more than doubled.

“2016 was another successful year for Acacia as we delivered record production, reduced our all-in sustaining costs by 14 percent and more than doubled our net cash position,” Brad Gordon, chief executive of Acacia Mining, said.

For the coming year, the company said in a statement, a six-month extension of mining at Buzwagi will lead to a 40 percent output increase versus 2016. (Reporting by Barbara Lewis; Editing by Susan Fenton)

SHANGHAI, Feb 15 Zhenai.com, one of China’s largest matchmaking websites, has found itself an unlikely suitor in drone manufacturer DEA General Aviation that said on Wednesday it wants to buy the popular dating website to expand its business.

BERLIN, Feb 15 The German government is holding talks with General Motors and Peugeot to ensure that Opel’s three plants in Germany remain open should the U.S. carmaker succeed in selling its European unit to the French company, Labour Minister Andrea Nahles said on Wednesday.

* Pan american silver announces unaudited net earnings of $101.8 million ($0.66 per share) in 2016 and increases the quarterly dividend

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Acacia Mining sees 40 percent boost from mine extension | Reuters – Reuters

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