By Oliver Griffin

 

Acacia Mining PLC (ACA.LN) on Thursday said total gold production in April was 37% higher than the monthly average achieved in the first quarter of 2019, citing significant operational improvements at its North Mara mine in Tanzania.

The gold-mining company, which is majority owned by Canada's Barrick Gold Corp. (ABX.T), said total production in April rose to 47,805 ounces.

At North Mara, production hit 33,941 ounces of gold, representing a 54% increase on the monthly average in the first quarter of the year, Acacia Mining said.

Elsewhere, production at the company's Buzwagi mine was 12% higher than the first-quarter monthly average to 10,705 ounces of gold. Output at Bulyanhulu was in line with prior months.

As a result, the company said it was confident in meeting its full-year guidance range of 500,000 to 550,000 ounces of gold.

The company said it is seeking clarification regarding comments reportedly made by Mark Bristow, CEO of Barrick, concerning the resolution of Acacia's long-running dispute with the government of Tanzania.

Acacia Mining said not all of the reported comments were consistent with its own understanding of the position regarding the dispute. An update will be provided in due course, it said.

 

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

 

(END) Dow Jones Newswires

May 09, 2019 03:16 ET (07:16 GMT)

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