Wednesday, December 7

Mali industrial gold output at risk of missing targets, says ministry


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BAMAKO — Industrial gold production in Mali, one of Africa’s top producers of the precious metal, risks falling short of annual forecasts after underperforming through the third quarter, a mines ministry official said.

Gold production from 13 major mines, including those owned by Barrick Gold, B2Gold, Resolute Mining and AngloGold Ashanti, stood at 45.8 tonnes by the end of September, Mamadou Sidibé, head of the mines ministry’s audit and statistics department, told Reuters.

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While having surpassed the 44.5 tonnes initially forecasted for the period, output remains below the 47.1 tonnes produced by this time last year.

Sidibé said that will make it increasingly difficult for mines to reach their targeted 64.1 tonnes by the end of December, which was an increase over 2021’s total output.

“The trend is down from last year and there are uncertainties about reaching the forecasts announced for 2022,” he said on Friday.

Mali’s industrial gold production in 2021 totaled 63.4 tonnes. (Reporting by Tiemoko Diallo; Writing by Cooper Inveen; editing by Clelia Oziel)



financialpost.com