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Mali's estimated gold reserves climb to 800 T -mines minister

Mon 21st March, 2016 4:19pm
BAMAKO, March 21 (Reuters) - Mali has upgraded its estimated 
below-ground gold reserves by a third to 800 tonnes, enough to 
maintain current levels of output for the next 15 years, Mines 
Minister Cheickna Seydi Diawara said. 
    The West African nation, Africa's third-biggest gold 
producer behind South Africa and Ghana, achieved gold output of 
50 tonnes last year. The government is seeking to increase 
production to 60 tonnes in 2017.  urn:newsml:reuters.com:*:nL8N14L0C4  
    Revenue from the precious metal account for about a quarter 
of the national budget.  
    "Mali has established a mining sector that, since 2002, 
produces 50 tonnes of gold per year. With resources of 800 
tonnes and production at that rate, we have enough for another 
15 years," he said on state television late on Sunday.  
    Mali estimated its gold reserves at 600 tonnes last year. 
    A mines ministry official said that exploration linked to 
Canadian miner B2Gold Corp's  BTO.TO  future Fekola mine and 
London-listed Hummingbird Resources'  HUMR.L  Yanfolila project, 
among others, was behind the increase in reserves.  
 (Reporting by Tiemoko Diallo; Writing by Joe Bavier; Editing by 
Jan Harvey and David Goodman) 
 ((joe.bavier@thomsonreuters.com; +225 07074101; Reuters 
Messaging: joe.bavier.thomsonreuters.com@reuters.net)) 
Keywords: MALI GOLD/
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