Barrick’s Acacia Mining has been hit with a 300-million Tanzanian shillings fine (about $129,144) over allegations of environmental breaches at its North Mara mine.
Tanzanian President Magufuli said the central bank should start buying the country's gold to curb smuggling and build reserves to stabilise the currency.
The Canadian junior expects to mine 230,000 to 265,000 gold ounces this year from both Aurizona mine in Brazil and its recently acquired Mesquite gold operation in California.
The company produced 472,418 ounces of gold at its Egypt-based Sukari mine last year, compared to 544,658 ounces in 2017, due to disruptions and lower grades at the operation.
A prolonged spat between the government and gold producer Acacia over a $190 billion tax bill has severely limited the company's operations in the East African nation.