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18 Dec 2018

Henry Sanderson, Financial Times

Tanzania: Acacia Mining denies it is under investigation by UK's Serious Fraud Office for corruption

"Acacia says ‘in contact’ with UK’s SFO after Tanzania arrests"

London’s Acacia Mining said it had “been in contact” with the UK’s Serious Fraud Office in the wake of corruption allegations against its staff in Tanzania. The Africa-focused gold miner said, however, that it is “not aware that the SFO is investigating the company,” following a report in the Wall Street Journal which claimed it is being investigated. In October Acacia, which is majority owned by Canada’s Barrick Gold, said two employees and a former employee in Tanzania were charged of various corruption offences by local authorities. “Acacia is not aware that the SFO is investigating the Company. However, Acacia has been in contact with the SFO about the allegations of corrupt activities in Tanzania which are the subject of proceedings in Tanzania,” Acacia said in a statement. The SFO refused to say whether or not it was investigating Acacia. The news comes as Acacia is in the middle of negotiations with Tanzania to resolve a dispute over its past tax payments that has left it unable to export gold from the country since March 2017.