• Most Popular
  • Most Shared

Mali appoints banker as new mines minister

Fri Oct 3, 2008 8:04am EDT

Stocks

   

BAMAKO, Oct 4 (Reuters) - West African gold producer Mali has appointed banker Mamadou Igor Diarra as mines minister, the government said on state television late on Thursday.

Stocks  |  Global Markets

Diarra, whose most recent job was Director General of one of Mali's biggest banks, has replaced Ahmed Sow, who resigned earlier this week.

Water and energy are also in Diarra's portfolio.

Mali is sub-Saharan Africa's third-largest gold producer, but established mines are coming to the end of their productive lives. Output is expected at 50.11 tonnes this year, down from 56.75 tonnes in 2007.

The Finance Ministry said last month it would create a special account for its gold revenues as international lenders increasingly make transparency of resources income a key issue when dealing with African countries.

Firms active in Malian gold include the world's No.3 gold miner AngloGold Ashanti (ANGJ.J) and Randgold (RNGJ.J). (Reporting by Ibrahim Guindo; Writing by Daniel Magnowski)



More from Reuters

A customer is served at a counter inside a foreign exchange store displaying a poster of various banknotes including the Chinese yuan or renminbi (RMB) in Hong Kong November 20, 2009. REUTERS/Bobby Yip
OUTLOOK 2010:

Be careful what you wish for

Pressure on China to loosen its grip on the yuan will continue but the U.S. should tread carefully. Here are five world market issues to watch.  Full Article 

Aurora, a 20-year-old Beluga whale, swims with her newborn calf after giving birth at the Vancouver Aquarium in Vancouver, British Columbia June 7, 2009. REUTERS/Andy Clark

365 days for the doomed

From polar bears to emperor penguins, endangered species will get top online billing in 2010 during the Year of Biodiversity.  Full Article