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Mali: gold production will exceed 66 tonnes in 2021

08 January 2021

 

Despite the economic crisis linked to the Covid-19 pandemic, the Malian mining sector is doing well. Indeed, the 8th session of the consular assembly of the Chamber of Mines of Mali reports satisfactory completion of mining activities.

 

Africa's third largest producer of the yellow metal on the continent, Mali expects good production for the year 2021. The 8th session of the consular assembly of the Chamber of Mines of Mali reports a satisfactory achievement of mining activities. According to the president of the Chamber of Mines, Abdoulaye Pona, gold production will exceed 66.893 tonnes last year.

 

The price of gold has been better, as it has never been, in this year 2020, on the international market, to peak at 2,030 dollars an ounce, in August 2020. This price increase extracted from gold should mean more profits for mining companies and even more royalties for the Malian state ”, specified, the president of the Chamber of mines, Abdoulaye Pona.

 

According to the figures, gold brought in over 1,388 billion FCFA in 2018, or more than 2/3 of the state budget and nearly 75% of export products. The upward trend in gold revenues should be maintained, which could allow Mali to maintain its rank as the 3rd gold producer in Africa, after South Africa and Ghana.

 

Lamine Seydou Traoré, Minister of Mines, Energy and Water of Mali, showed the importance of this sector of activity, especially since “mines bring in at least some 350 billion FCFA to the budget of 'State, that is to say nearly 1/3 of budget revenue, nearly CFAF 400 billion, 70% of export revenue, 10% of GDP'.

 

Source: https://www.afrik.com/mali-la-prod