Acacia Mining eyes projects in W. Africa

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Acacia Mining eyes projects in W. Africa

UK’s gold mining company Acacia Mining is set to expand in West Africa by acquiring gold mines and exploration projects in Senegal, Mali and Ghana.

Acacia Mining, which has three mines and exploration assets located in Tanzania, also has exploration assets in Kenya in East Africa, and Burkina Faso in West Africa.

Acacia Mining CEO Brad Gordon told Reuters: “While most of the industry is walking away from exploration programmes and from good prospective ground in Africa, we will start to look at picking some of that ground up.”

For the last two years, the company has been lowering its production costs.

According to Acacia Mining, full-year 2014 production was at 718,651oz with full-year sales of 703,680oz, 4% above the upper end of its initial production guidance of between 650,000oz and 690,000oz.

The company has delivered its ninth successive quarterly reduction in all-in sustaining costs (AISC) and generated a net cashflow of $7m as a result of its continued cost discipline.

During the quarter, the company produced 181,084oz of gold, which represents an improvement of 10% on the same period in 2013. The increase is driven by strong production at North Mara and the contribution of the new CIL circuit at Bulyanhulu.

Acacia is also planning to boost production at its Bulyanhulu mine in Tanzania, the news agency stated.

Source: Mining-technology.com

Link: http://tinyurl.com/onhrs78

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

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Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.