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Cost cuts help Acacia Mining report profit

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London - Acacia Mining reported a profit for the fourth quarter of 2014, compared with a loss a year earlier, and forecast a rise in gold production for 2015.

Acacia, previously known as African Barrick Gold, reported a net profit of $21.1m, compared with a loss of $97.7m a year earlier, as it focused on cutting costs.

Falling gold prices have forced miners around the globe to take drastic steps to control costs, including shutting mines, scrapping dividends and halting operations.

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