[miningmx.com] – ACACIA Mining reported a net loss last year owing to a lower gold price but it kept its dividend unchanged with the previous year, said MarketWatch, citing the company’s full-year results presentation.
The UK-listed miner posted a net loss of $197m for the year ended December 31 compared with a net profit of $89m the year before. The bottom line was weighed down by a non-cash, post-tax impairment charge of $189m at its Buzwagi mine and a 7% drop in revenue to $868m, said MarketWatch.
“We continue to have one of the strongest balance sheets in the sector and as a result of this and expected improvements in production, costs and cash flow generation in 2016, the Board have recommended maintaining the final dividend in line with 2014,” said Brad Gordon, CEO of Acacia Mining.
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