Asset Report

Buzwagi gold mine

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06 September 2018

Buzwagi gold mine

Report summary

Buzwagi is an open-pit mining operation and the smallest of Acacia Mining`s three gold producing mines. Commercial production commenced in 2009 and in 2013, mine life was shortened following a decision to suspend a final cut-back of the open pit. In 2017, the mine produced 269koz of gold. Open pit mining activity and concentrate production ceased in 2017 following the Tanzania concentrate export ban. Based on year-end 2017 reserve estimates, stockpile processing is expected to continue until 2020, solely producing gold dore from the gravity and CIL circuit. Development of a closure plan is on-going with various closure options under consideration.

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