Acacia Mining

Primary ticker: LSE:ACA
Stage of development: Exploration, Production, Development
Primary minerals: Gold

Live financials

Acacia Mining plc is the UK holding company of the Acacia Group, Tanzania’s largest gold miner and one of the largest producers of gold in Africa. The Acacia Group has three mines, all located in north-west Tanzania: Bulyanhulu, which is owned and operated by Bulyanhulu Gold Mine Limited, Buzwagi, which is owned and operated by Pangea Minerals Limited and North Mara, which is owned and operated by North Mara Gold Mine Limited. The Group also has a portfolio of exploration projects in Kenya, Burkina Faso and Mali. Acacia is a UK public company headquartered in London, listed on the Main Market of the London Stock Exchange with a secondary listing on the Dar es Salaam Stock Exchange.

Management Profile

Peter Geleta – CEO

Peter Geleta, 54, was appointed as Acacia’s Interim Chief Executive Officer on 1 January 2018, having previously been Head of People. Mr Geleta joined Acacia in May 2012. He has 35 years of mining industry experience in both operational and corporate leadership positions, and has extensive experience on the African continent. During his time with Acacia he has served as General Manager of the Bulyanhulu mine and helped lead the successful restructuring of the business. Prior to joining Acacia, Mr Geleta held a number of roles at Barrick Gold Corporation in Africa and Australia and previously worked for Anglo Gold Ashanti for 25 years where he held a number of roles. Mr Geleta holds an Executive MBA qualification form the University of Cape Town.

What is your rationale for attending 121 Mining Investment?

General investor relations

What recent news would you like to highlight to investors attending?

Strong production performance in the year to date with a steady reduction in costs. Gold production of 391.399 ounces for the nine months to 30 September 2018 with production guidance raised to full year production in excess of 500,000 ounces of gold and AISC tracking towards lower end of guidance range of US$935 to US$985 per ounce.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

The challenging operating environment in Tanzania.

In a sentence, what do you think makes your company such a compelling investment?

The quality of our assets and people