Mali to meet or exceed forecast for industrial gold output
BAMAKO, Aug 26 (Reuters) -Industrial gold production in Mali, one of Africa's top producers of the precious metal, is expected to reach or exceed its 57.3 metric ton (tons) forecast for 2024, according to the mines ministry.
Gold production from mines, mainly owned by Barrick Gold ABX.TO , B2Gold BTO.TO, Resolute Mining RSG.AX , Allied Gold AAUC.TO and Endeavour Mining EDV.L , stood at 30.5 tons in the first half of the year, surpassing the initial forecast of 28.4 tons by 7.2%, according to ministry statistics provided to Reuters.
Mali's forecast for the year is 57.3 tons, 14% lower than the 66.5 tons achieved in 2023.
Barrick Gold was the main producer in the first six months of the year with 11.7 tons, followed by B2GOLD with 8.3 tons and Allied Gold 3.9 tons, the data showed.
In November 2023, the West African Sahel country signed a memorandum of understanding with Russia to build a gold refinery with a capacity of 200 tons per year.
Reporting by Tiemoko Diallo; Writing by Portia Crowe
Editing by Louise Heavens
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