Mali produced 50 T of gold in 2015, to increase output in 2016

Mali is set to consolidate its position as Africa’s third-largest producer from its 50 tonnes of gold in 2015 to increase output this year.

This position is also supported by the charge given by President Ibrahim Boubacar Keita in a New Year’s speech for the country to improve on its gold production.

Gold production is expected to start shortly at the Kofi Nord facility run by Canada’s Endeavour Mining, part of its Tabakoto mine west of the capital Bamako in southwestern Mali.

Keita said Kofi Nord will produce an average of around 1.8 tonnes per year.

He added that the Fekola mine owned by B2Gold, which has reserves of 3.15 million ounces, will also begin production this year.

“Despite the timid pick-up of the global economy, Mali has this year (2015) produced 50 tonnes of gold of which 46 tonnes are industrial production and four tonnes are artisanal,” Keita said.

The mining minister said in November that the West African nation’s gold production could rise to around 60 tonnes a year by the end of 2017.

Production was 49.865 tonnes in 2014. The Mining sector contributes around a quarter of the government’s revenue.

This post first appeared HERE

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.