ACACIA mining is not permitted to mine in Tanzania

Samantha Cole

Senior Member
Oct 19, 2016
109
250
FACT:
Refer to Acacia Mining website. In their media releases aimed at their shareholders, stakeholders, stock brokers and the public, they write:

“…. We would also like to confirm that these mines are all owned and operated by companies that are legally incorporated and registered in Tanzania: Bulyanhulu Gold Mine Limited, Pangea Minerals Limited and North Mara Gold Mine Limited, which are the special mining licence holders for each of the respective mines. These companies are indirectly owned by Acacia Mining plc which is a UK incorporated and registered company. This corporate structure is fully transparent, lawful…”

FACT:
Acacia Mining Plc is a non-existing entity as it was yet to be registered.

The Business Registrations and Licensing Agency (BRELA) is an Executive Agency under the Ministry of Industry and Trade responsible for business administration and regulation of the laws; namely Companies Registration, Business Names Registration, Trade and Service Marks Registration, granting of Patents and issuing of Industrial License.

Refer to the Daily News newspaper on June 14, 2017:

BRELA Chief Executive Officer, Frank Kanyusi said the mining company had on May 4 written a letter to the authority requesting for change of the company’s name which was received on May 8, when the President had already appointed an eight-member probe team led by a Professor of Economics, Nehemiah Osoro.

He said the authority responded that it was working on the request, but was surprised to see the request coming after the probe team was named by the President. He admitted that the dates were confusing but the authority wrote another letter to the mining company that had corrected the earlier mistakes.

Mr Kanyusi however said it was true that Acacia Mining Plc was a non-existing entity as it was yet to be registered. Presenting the Committee report findings on Monday, the Chairman of the probe team said inquiries by the team revealed that Acacia Mining Plc has been operating in the country for 19 years without any legal registration or certificate of compliance.

Prof Osoro, said the documents obtained from BRELA indicated that the company doesn’t have permission to conduct mineral activities and business in Tanzania. The Committee revealed that Acacia had under-declared revenues and tax payments over a number of years, occasioning loss to the government of over 380 trillion/-.

Barrick Gold – Acacia Mining are people who believe they can come when they want, go when they want, control what they want. Can someone tell them that colonialism is finished long time ago?
We, the People of Tanzania, fully rely on our President, Dr. John P. Magufuli to bring order and prosperity to our Country.
 

jingalao

JF-Expert Member
Oct 12, 2011
30,902
2,000
I see Acacia struggling for 'good investors' character for which they dont deserve.

Acacia is acused of calculated tax evasion ...thats is my stand and so do the rest of Tanzanians.
 

jebs2002

JF-Expert Member
Sep 3, 2008
6,844
2,000
I see Acacia struggling for 'good investors' character for which they dont deserve. Acacia is acused of calculated tax evasion ...thats is my stand and so do the rest of Tanzanians.
I concur, na hapo ndipo tulipowapata, end of story, inabidi wawe wapole tu, hata Tundu Lissu akiwawakilisha, hii ngoma nzito...
 

Massanda OMtima Massanda

JF-Expert Member
Jun 27, 2017
1,059
2,000
FACT:
Refer to Acacia Mining website. In their media releases aimed at their shareholders, stakeholders, stock brokers and the public, they write:

“…. We would also like to confirm that these mines are all owned and operated by companies that are legally incorporated and registered in Tanzania: Bulyanhulu Gold Mine Limited, Pangea Minerals Limited and North Mara Gold Mine Limited, which are the special mining licence holders for each of the respective mines. These companies are indirectly owned by Acacia Mining plc which is a UK incorporated and registered company. This corporate structure is fully transparent, lawful…”

FACT:
Acacia Mining Plc is a non-existing entity as it was yet to be registered.

The Business Registrations and Licensing Agency (BRELA) is an Executive Agency under the Ministry of Industry and Trade responsible for business administration and regulation of the laws; namely Companies Registration, Business Names Registration, Trade and Service Marks Registration, granting of Patents and issuing of Industrial License.

Refer to the Daily News newspaper on June 14, 2017:

BRELA Chief Executive Officer, Frank Kanyusi said the mining company had on May 4 written a letter to the authority requesting for change of the company’s name which was received on May 8, when the President had already appointed an eight-member probe team led by a Professor of Economics, Nehemiah Osoro.

He said the authority responded that it was working on the request, but was surprised to see the request coming after the probe team was named by the President. He admitted that the dates were confusing but the authority wrote another letter to the mining company that had corrected the earlier mistakes.

Mr Kanyusi however said it was true that Acacia Mining Plc was a non-existing entity as it was yet to be registered. Presenting the Committee report findings on Monday, the Chairman of the probe team said inquiries by the team revealed that Acacia Mining Plc has been operating in the country for 19 years without any legal registration or certificate of compliance.

Prof Osoro, said the documents obtained from BRELA indicated that the company doesn’t have permission to conduct mineral activities and business in Tanzania. The Committee revealed that Acacia had under-declared revenues and tax payments over a number of years, occasioning loss to the government of over 380 trillion/-.

Barrick Gold – Acacia Mining are people who believe they can come when they want, go when they want, control what they want. Can someone tell them that colonialism is finished long time ago?
We, the People of Tanzania, fully rely on our President, Dr. John P. Magufuli to bring order and prosperity to our Country.
Historical background of mining companies in Tanzania should be elaborated clearly to us so as to put us in a position of knowing the true story. Let us take an example of North Mara Gold Mine which has passed though various holders like East African Gold Mine (owned by one Jaffer from Australia) which was later changed to Afrika Mashariki Gold Mine then Placerdom, Barrick, African Barrick Gold and now Acacia.
From the above narration, the allegations that Acacia has been operating in this country for 19 years might not be a true story!
 

MTK

JF-Expert Member
Apr 19, 2012
8,255
2,000
FACT:
Refer to Acacia Mining website. In their media releases aimed at their shareholders, stakeholders, stock brokers and the public, they write:

“…. We would also like to confirm that these mines are all owned and operated by companies that are legally incorporated and registered in Tanzania: Bulyanhulu Gold Mine Limited, Pangea Minerals Limited and North Mara Gold Mine Limited, which are the special mining licence holders for each of the respective mines. These companies are indirectly owned by Acacia Mining plc which is a UK incorporated and registered company. This corporate structure is fully transparent, lawful…”

FACT:
Acacia Mining Plc is a non-existing entity as it was yet to be registered.

The Business Registrations and Licensing Agency (BRELA) is an Executive Agency under the Ministry of Industry and Trade responsible for business administration and regulation of the laws; namely Companies Registration, Business Names Registration, Trade and Service Marks Registration, granting of Patents and issuing of Industrial License.

Refer to the Daily News newspaper on June 14, 2017:

BRELA Chief Executive Officer, Frank Kanyusi said the mining company had on May 4 written a letter to the authority requesting for change of the company’s name which was received on May 8, when the President had already appointed an eight-member probe team led by a Professor of Economics, Nehemiah Osoro.

He said the authority responded that it was working on the request, but was surprised to see the request coming after the probe team was named by the President. He admitted that the dates were confusing but the authority wrote another letter to the mining company that had corrected the earlier mistakes.

Mr Kanyusi however said it was true that Acacia Mining Plc was a non-existing entity as it was yet to be registered. Presenting the Committee report findings on Monday, the Chairman of the probe team said inquiries by the team revealed that Acacia Mining Plc has been operating in the country for 19 years without any legal registration or certificate of compliance.

Prof Osoro, said the documents obtained from BRELA indicated that the company doesn’t have permission to conduct mineral activities and business in Tanzania. The Committee revealed that Acacia had under-declared revenues and tax payments over a number of years, occasioning loss to the government of over 380 trillion/-.

Barrick Gold – Acacia Mining are people who believe they can come when they want, go when they want, control what they want. Can someone tell them that colonialism is finished long time ago?
We, the People of Tanzania, fully rely on our President, Dr. John P. Magufuli to bring order and prosperity to our Country.
Ho ho ho! The devil is in the detail boyo! Not all that shines is gold boyo! Just sit tight, time is very dynamic, usanii utamuubua muhusika muda sirefu! Tusubiri tuone, facts are sturbon, lets wait and see!
 

jingalao

JF-Expert Member
Oct 12, 2011
30,902
2,000
Ho ho ho! The devil is in the detail boyo! Not all that shines is gold boyo! Just sit tight, time is very dynamic, usanii utamuubua muhusika muda sirefu! Tusubiri tuone, facts are sturbon, lets wait and see!
Mtsumbuka sana mwaka huu...mlianza na MIGA mkaja na story ya kwamba hakuna mazungumzo sasa mnasema mazungumzo hayatazaa matunda...Keep on shifting the posts ...all of which will be scored
 

MTK

JF-Expert Member
Apr 19, 2012
8,255
2,000

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