January 26, 2017 / 10:31 AM / 6 months ago

Mali's industrial gold production beats forecasts

3 Min Read

BAMAKO, Jan 26 (Reuters) - Nearly all of Mali's industrial
gold mines produced more than forecast last year, defying
expectations of an overall decline, a senior mining official
said on Thursday.
    Mali, Africa's third largest producer after South Africa and
Ghana, saw industrial production reach 46.9 tonnes of gold in
2016, up slightly from 46.5 tonnes produced in 2015.
    "Due to reinforced production infrastructure, nearly all the
mining companies surpassed (targets), aside perhaps from those
that are in a phase of exhausting their reserves," Lassana
Guindo, a technical advisor at the mines ministry told Reuters.
    International mining companies operating in Mali include
Randgold Resources, Anglogold Ashanti, Iamgold
, Endeavour Mining and Resolute Mining
. 
    Mali's mines minister has previously forecast total annual
output, including artisanal production, of 60 tonnes by the end
of 2017 helped by output from two new mines, up from 50.9 in
2016. 
    Canadian miner B2Gold's Fekola mine is expected to
produce about 10 tonnes per year and Hummingbird Resources'
 Yanfolila mine about 3 tonnes, according to the
ministry.
    The industry contributes around a quarter of the
government's total revenues.
    The following are 2016 production forecasts and actual
production, according to mines ministry data. All figures are in
kilograms.
 Mine                             2016 Forecast     Production
 Sadiola (Anglogold-Ashanti)              5,212          5,867
 Morila (Randgold/Anglogold)              2,791          2,342
 Yatela (Anglogold/Iamgold)                 310            463
 Kalana  (Avnel Gold)                       239            394
 Loulo-Gounkoto (Randgold)               21,801         23,801
 Tabakoto/Segala (Endeavour)              5,506          5,656
 Syama (Resolute Mining)                  7,451          7,984
 Accord SA                        not available             35
 Total                                   43,310         46,544
 
 (Reporting by Tiemoko Diallo; Writing by Joe Bavier; Editing by
Greg Mahlich)

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