Acacia Mining has complied with the Mining Act of 2010 by placing $41 million rehabilitation bonds for all its mines.
The bonds have been facilitated by Metropolitan Tanzania Insurance Company Limited for Bulyanhulu, Buzwagi and North Mara.
The Mining Act of 2010 requires all middle and large scale mining companies to have their closure plans in place and approved by the National Closure Mining Committee.
Energy and Minerals minister Sospeter Muhongo signed the pact with Acacia’s vice president for corporate affairs, Mr Deo Mwanyika, recently. Acacia becomes the first mining company in the country to comply with the Mining Act of 2010 with respect to placing the rehabilitation bonds.
The firm promised to continue complying with the regulatory requirements in the sector. The committee is composed of representatives from three ministries: those of Energy and Minerals, Tourism and Natural Resources as well as Water and Irrigation.
Other representatives are drawn from the National Land Use Planning Commission as well regional and district authorities.