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Acacia Mining aims for lower end of FY guidance after tough H1

Published 2017-07-21, 02:26 a/m
© Reuters. Acacia Mining aims for lower end of FY guidance after tough H1
ACAA
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GOLD
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LONDON, July 21 (Reuters) - Acacia Mining ACAA.L is targeting the lower end of its production guidance for the year after its first-half results were hit by Tanzania's ban on the export of its concentrates, the gold miner said on Friday.

Majority owned by Barrick Gold ABX.TO , Acacia was forced to stop shipments of its ore after a ban was imposed in March.

It reported a 22 percent fall in first-half revenue to $392 million and its cash balance fell by 80 percent to $176 million.

The company said it would aim for the lower end of its 2017 production target of 850-900,000 ounces of gold.

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