Following the ongoing media speculation about the future of Buzwagi Gold Mine, Acacia has reiterated that the plan at Buzwagi is still to produce gold until 2020.

Recently, the miner announced a plan to sell mining assets that were no longer needed in an auction.

“As mining of the open pit is largely complete we made the decision to commence an auction process to dispose of mining equipment and other associated stocks and spares in the mine warehouse.

The auction is only for the equipment which will no longer be required in the remaining processing operations. Whilst the auction has currently been postponed it is envisaged that it will take place in the near future,” Acacia said in a statement.

Buzwagi opened in 2009 as an open pit mine and since that time has mined more ore than it was able to process. This excess ore was stockpiled on site and now that the open pit is close to running out of commercially viable gold, the stockpiled ore will be processed in order to continue to produce gold at the operation until 2020, as previously announced.

Over the last few years the mine has been engaging with the Government, employees and communities surrounding the mine and other stakeholders on the Mine Closure Plan, activities and timeframe for the ultimate planned closure of all mining and processing operations in 2020. “This all forms part of Buzwagi’s extensive No Harm 2020 programme which is well known in the local region,” the company said.

Buzwagi currently is led by a Tanzanian national and has a work force of 287 Tanzanians, with only one international employee. Historically, the mine employed around 800 people and those who have left have been taken through various training workshops (known as “life beyond Buzwagi”) to learn more on how to sustain their livelihood post the Buzwagi employment, improving their job searching skills and managing their finances, before leaving the mine.