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Acacia Mining scraps dividend after profit hit by Tanzania export ban

Published 2018-02-12, 02:19 a/m
© Reuters. Acacia Mining scraps dividend after profit hit by Tanzania export ban
ACAA
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GOLD
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LONDON, Feb 12 (Reuters) - Acacia Mining ACAA.L has scrapped its 2017 dividend after core earnings fell by more than half because of a ban on unprocessed mineral exports in Tanzania, it said on Monday.

The company, which is majority owned by Barrick Gold ABX.TO , said full-year earnings before interest, tax, depreciation and amortisation (EBITDA) fell 38 percent to $257 million after taking a $644 million impairment charge.

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