Acacia Mining

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Kibo Mining Company
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Palabora Mining Company Logo
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Acacia Mining

Acacia mining company logo
  • Year Founded: 2000
  • Key Founding Individuals: Started as a unit of Barrick Gold which was founded by Peter Munk
  • Key People: Kelvin Dushnisky – Chairman, Bradley Gordon - CEO
  • Mined Resources: Gold
  • Operational Regions: Tanzania

History

Acacia Mining was established in 2000 when Barrick Gold expanded operations to include mining in Tanzania. Barrick became involved with Tanzania in 1999 when acquiring Sutton Resources Ltd. Barrick bought Bulyanhulu as part of this deal in 1999, and then also purchased Buzwagi and Tulwaka mines as part of the Pangea Goldfields Inc. acquisition. The company then took over Placer Dome and acquired North Mara mine in 2006. In 2010 Barrick listed as African Barrick Gold on the London Stock Exchange. It finally changed its name to Acacia Mining in 2014.

Operations

Tanzania in the Northwest region – Bulyanhulu, Buzwagi and North Mara. Situated 55 kilometres south of Lake Victoria, Bulyanhulu is an underground gold mine which is known as the deepest mine in Tanzania. The mine was instrumental in making Tanzania the third biggest gold producer on the African continent. Located in the Shinyanga region, Buzwagi is an open pit gold mine. It is known as the biggest single open pit mine, and the second largest mining operation in Tanzania. North Mara is also an open pit gold mine and is located in the Tarime district in Mara.

Company Mission and Vision

Acacia Mining has a strategic approach to operating assets. Through exploration the value for the business over the long term is driven. Acacia aims to build a major land package in all the most geologically sound belts in Tanzania to create the best possible opportunities to make new discoveries. The company continuously invests in the future while focusing on three main pillars: business, people and relationships.

Business

Acacia has made major improvements to the business to ensure that every mine is correctly set up and engineered. The Bulyanhulu mine was adapted to a mechanised mining method. At the North Mara mine an underground operation is being developed with the vision of strong social and fiscal returns. At Buzwagi the company has made such drastic changes that only profitable ounces are being mined.

People

According to Acacia Mining people are the core asset of any company. The corporate offices and management have been drastically restructured to ensure contemporary cultural transformation. Acacia also introduced a behavioral safety programme. By creating a culture of high performance, employees are given tools to succeed, and are held accountable. .

Relationship

Through placing focus on improving relationships with local communities near the mines and with the government, Acacia Mining creates engagement. The company has also forged strong relationships with the authorities on a national and local level. This ensures on-going support for the business and long-term success.

Company Culture

Acacia Mining prescribes to a culture of high performance. In order to drive the culture every employee is expected to follow these core behaviors: - Plan the work well, and work well according to the plan - Recognize performance - Work as a team - Communicate openly - Act with urgencyWith this approach Acacia hopes to create a business that will be continue to be recognised as one of the top mining companies on the African continent.