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Canada: Endeavour Mining dumps $3.5bn gold merger talks with Acacia

 |  March 21, 2017

Canadian gold miner Endeavour Mining said on Tuesday it had ended discussions with London-based Acacia Mining regarding a potential merger.

Endeavour, which operates mines in West Africa, had held talks with Acacia earlier in January.

Acacia, which is majority owned by Barrick Gold, also said on Tuesday it had decided not to progress towards a combination of the companies.

Acacia had said in March that it stopped gold and copper concentrate exports from Tanzania following a ban by the government on unprocessed ore, putting nearly a third of its revenue at risk.

Tanzania is Africa’s fourth-largest gold producer and Acacia its largest miner.

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