Finance > Profit-loss

Acacia posts $707m loss

Acacia Mining’s (LN:ACA) 2017 earnings match much of the doom and gloom forecast by the company during its run-ins with Tanzania authorities over the tax bill and concentrate export ban.

Finance > Profit-loss

Acacia posts $707m loss

Acacia Mining’s (LN:ACA) 2017 earnings match much of the doom and gloom forecast by the company during its run-ins with Tanzania authorities over the tax bill and concentrate export ban.

Acacia posts $707m loss

Bye-zwagi: Operations at the Buzwagi mine will gradually slow down to a stop in 2018. PICTURE: Acacia Mining

The Barrick Gold (US:ABX) subsidiary lost US$707 million in 2017 thanks to the US$644 million write-down from the uncertainty in Tanzania, and EBITDA was down 38% year-on-year to US$257 million.