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Mali's industrial gold production beats forecasts

Published 2017-01-26, 05:26 a/m
© Reuters.  Mali's industrial gold production beats forecasts
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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 RRS.L , Anglogold Ashanti ANGJ.J , Iamgold IMG.TO , Endeavour Mining EDV.TO and Resolute Mining RSG.AX .

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. miner B2Gold's BTO.TO Fekola mine is expected to produce about 10 tonnes per year and Hummingbird Resources' HUMR.L 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

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