LONDON Feb 14 Tanzanian gold producer Acacia
Mining said 2017 production would be lifted 40 percent
by a mine life extension at Buzwagi following a strong 2016 when
EBITDA (earnings before interest, tax, depreciation and
amortisation) more than doubled.
"2016 was another successful year for Acacia as we delivered
record production, reduced our all-in sustaining costs by 14
percent and more than doubled our net cash position," Brad
Gordon, chief executive of Acacia Mining, said.
For the coming year, the company said in a statement, a
six-month extension of mining at Buzwagi will lead to a 40
percent output increase versus 2016.
(Reporting by Barbara Lewis; Editing by Susan Fenton)