War-torn Mali remains Africa's 3rd largest Gold producer
Despite the growing tensions,at least 13 international companies were engaged in gold exploration and production in the West African country.
War hit West African nation Mali said it’s gold production remained unaffected by the conflicts.
Africa's third largest gold producer's production climbed to 50 metric tons last year, up 4 tons from 2011 and the country expects output to hit 57 tons this year, according to Mines ministry.
Despite the growing tensions,at least 13 international companies were engaged in gold exploration and production in the West African country.
Analysts said the war is unlikely to affect gold fields as 98 percent of the operations are in the south and away from any fighting.
French and West African troops have been battling northern Islamist insurgents for almost a month. The rebels occupied two- thirds of Mali, which vies with Tanzania as Africa’s third- biggest gold producer, after soldiers ousted the government in March.
Gold companies with mines in Mali - including Randgold Resources, AngloGold Ashanti and Avion Gold - have been publicly playing down the risks of the crisis to production and shipping.
Meanwhile, Mali laid the foundation stone of a new gold-exploiting factory in Nampala, located in the rural community of Finkolo-Ganadougou, southern Mali
The factory will be built by Robex-SA, a Canadian company which specializes in mine exploration.
The project will cost $ 53 million
When completed, the mine will have a production capacity of 5.200 tons a year and will create at least 200 permanent jobs while contributing millions a year to the local economy.The first gold product is expected to roll out and be sold by late 2013.
Sumber : Google
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