Fekola gold mine, B2Gold, Mali INDUSTRIAL gold production from Mali was forecast to fall 8.3% year-on-year to 59.77 tons in 2020 compared with 2019, said Reuters.
Citing the West African country’s mines and petroleum ministry, the newswire said total gold production is expected at 65.7 tons in 2020. This includes six tons from the artisanal, or small-scale mining sector, compared with 71.1 tons a year ago.
Mali hosts some of the world’s largest gold mining companies such as Barrick Gold and AngloGold Ashanti, as well as emerging mid-tier companies including B2Gold and Resolute Mining. Resolute’s Syama mine, and B2Gold’s newly developed Fekola operation were expected to boost production, the ministry said.
Reserves at Anglogold Ashanti’s Sadiola mine were reaching depletion phase, and would produce 832 kilograms compared with 4.6 tons last year, mines ministry official Mamadou Sidibé told Reuters.
He added that output at Barrick’s Morila mine is expected at 1.9 tons, compared with 3.5 tons the previous year.
AngloGold said in December it had sold its 41% stake in Sadiola for $52.5m in cash in conjunction with partner Iamgold Corporation which also held 41% of the mine and will also receive $52.5m.
The mine was sold to Allied Gold Corporation which AngloGold CEO, Kelvin Dushnisky said had “… plans to secure the long-term future of Sadiola”. The Government of Mali owns the remaining 18% stake in Sadiola.