(Ecofin Agency) - In 2017, Acacia Mining paid a total of $202.175 million in taxes and royalties to countries where it operates, 10% higher than the previous year. However, excluding indirect taxes, this reflects a decline by 12% compared to 2016 mainly due to a drop in gold concentrate sales over disputes with Tanzania which hosts the company’s largest assets.

In a new report released today June 25, the subsidiary of UK-based Barrick Gold said it paid Tanzania a total of $194.798 million, $501,000 in Kenya and $675,000 respectively in Burkina Faso and Mali. Moreover, the company paid $1.35 million in South Africa and $4.842 million to the UK.

“We are delighted to publish our third Payments to Governments report as part of our commitment to running our business transparently and demonstrating the economic benefits that our host countries and stakeholders receive from our operations,” said CFO Jaco Maritz (photo).

During the period under review, the company recorded a decline by 7% to 767,883 ounces in gold production and a net loss of $707 million.

Louis-Nino Kansoun