Mali Gold Industry Remains Steady with 66.5 Metric Tons Production in 2023

Mali's Gold Production Keeps Going: 66.5 Metric Tons in 2023 Despite Challenges.

Jan 26, 2024 - 13:02
Jan 26, 2024 - 13:03
Mali Gold Industry Remains Steady with 66.5 Metric Tons Production in 2023
Mali Gold Industry Remains Steady with 66.5 Metric Tons Production in 2023

Mali, a key player in Africa's gold production, has reported a consistent industrial gold output of 66.5 metric tons for the year 2023, showing little deviation from the 66.2 tons recorded in 2022. The announcement comes from the country's mines ministry on Friday.

Mali hosts industrial mines operated by major international companies such as Barrick Gold, B2Gold Corp, Resolute Mining, and Hummingbird Resources.

According to official data from the ministry, Barrick Gold retains its position as the country's primary gold producer, contributing 23.5 tons in 2023. Following closely are B2Gold with 20.6 tons and Resolute Mining with 7.3 tons.

Taking into account an estimated 6 tons from artisanal mines, Mali's overall gold production for 2023 is projected to reach 72.5 tons, according to the mines ministry.

Despite expectations, the industrial gold output remains steady year-on-year, falling short of the initially forecasted 67.7 tons.

In November of the previous year, Mali entered an agreement with Russia for the construction of a 200-ton-per-year gold refinery in Bamako, the capital city. Simultaneously, the country implemented a new mining code allowing the military-led government to increase its ownership in mining projects from 20% to 35%.

Tragically, recent events include a devastating incident where over 70 artisanal gold miners lost their lives in Mali's southwestern Koulikoro Region due to a collapsed shaft. Artisanal mining, prevalent across West Africa, has witnessed a surge in recent years due to growing metal demand and rising prices, often resulting in deadly accidents due to unregulated mining practices.

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