B2Gold logo

BTG - B2Gold News Story

$6.82 -0.2  -2.2%

Last Trade - 18/09/20

Sector
Basic Materials
Size
Large Cap
Market Cap £5.50bn
Enterprise Value £5.44bn
Revenue £1.12bn
Position in Universe 929th / 6396

Mali expects 2018 industrial gold output to rise 21 pct

Fri 5th October, 2018 1:42pm
BAMAKO, Oct 5 (Reuters) - Industrial gold production in
Mali, Africa's third biggest producer, is still expected to rise
almost 21 percent to 60 tonnes this year, a government official
told Reuters on Friday, despite slightly lower than expected
output so far.
    Aboubacar Ogognagaly, head of the mines division, said a
previous production forecast of 59.3 tonnes of gold for 2018 had
been marginally increased.
    "It's a realistic forecast, provided there are no major
technical problems at the facilities," he said.
    Mali is the third biggest producer of gold after South
Africa and Ghana with nine gold mines operated by multinational
companies, including Randgold Resources  RRS.L , Anglogold
Ashanti  ANGJ.J , B2Gold  BTO.TO  and Resolute Mining  RSG.AX .
    In March, the mines ministry said the expected increase in
output for 2018 was primarily due to the start of production at
B2Gold's Fekola and Hummingbird Resources' Komana mines. 
    By the end of July, Mali's industrial miners had produced
34.57 tonnes of gold compared with a forecast of 34.66 tonnes.
    Mamadou Sidibe, deputy director of the government's Cell for
Planning and Statistics, said the rainy season was responsible
for the slightly lower-than-expected output, but he expected
production in the coming months would make up for it.

 (Reporting by Tiemoko Diallo; Writing by Juliette Jabkhiro;
Editing by Alessandra Prentice and Elaine Hardcastle)
 ((Juliette.Jabkhiro@thomsonreuters.com;))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.