Mali expects 14% drop in industrial gold production, mines ministry says
08/04/2024 15:40
BAMAKO, April 8 (Reuters) - Mali's industrial gold
output is expected to drop by about 14% this year to 53.7 metric
tons, mines ministry data showed on Monday.
The West African country, one of the continent's top gold
producers, is home to industrial mines operated by international
companies including Barrick Gold ABX.TO , B2Gold Corp BTO.TO ,
Resolute Mining RSG.AX and Hummingbird Resources HUMR.L .
Its industrial gold production stood at 66.5 metric tons
last year, almost unchanged from 66.2 tons in 2022.
The mines ministry did not provide reasons for this year's
lower forecast.
The data showed Barrick Gold is the country's biggest gold
producer, with an output representing 36.8% of this year's
expected production. It is followed by B2Gold at 26.3% and
Resolute Mining at 11.58%.
Last November, Mali signed an agreement with Russia to build
a 200-ton-per-year gold refinery in the capital Bamako.
It also adopted a new mining code that will allow the
military-led government to increase its ownership of mining
projects to 35% from 20%.
(Reporting by Tiemoko Diallo
Writing by Sofia Christensen
Editing by Christina Fincher
)
((Sofia.Christensen@thomsonreuters.com;))