African Mining Brief
smec
  • Home
  • Events
  • Industries
    • Energy
    • Equipment
    • Fuel and Fleet Management
    • Legislation
    • Mining
    • Products
    • Technology
    • Water
  • People
  • Insights
  • Videos
  • Advertise
  • Magazine Archive
  • Blog
No Result
View All Result
  • Home
  • Events
  • Industries
    • Energy
    • Equipment
    • Fuel and Fleet Management
    • Legislation
    • Mining
    • Products
    • Technology
    • Water
  • People
  • Insights
  • Videos
  • Advertise
  • Magazine Archive
  • Blog
No Result
View All Result
African Mining Brief
No Result
View All Result

Mali State mining revenues fell 11% last year

Newton Mthethwa by Newton Mthethwa
August 19, 2016
in Gold, Mali
0
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

Mali collected 245-billion CFA francs ($422-million) in state revenues from mining companies last year, a near 11% fall on the previous year, owing to stagnant production and lower gold prices, the statistics office said yesterday, according to a report filled by Reuters News Agency from Bamako, the country’s capital.

The figure came in lower than the 275-billion CFA francs in 2014, despite Mali exporting a record 70.2 tonnes of gold last year.

Mali is the third biggest gold producer in Africa behind South Africa and Ghana, and gold overwhelmingly dominates its mining sector, itself about a quarter of government revenues.

Mohamed Ouedrago, director of Mali’s Planning and Statistics Unit, told Reuters the main reasons for lower revenues were a lower average gold price in 2015 of $1,068 per ounce, against about $1,200 per ounce in 2014, and stagnant production.

Gold output was virtually flat at 50.502 tonnes in 2015, against 49.865 tonnes in 2014, Ouedrago said. The discrepancy with export figures is because Mali is a also hub for the regional gold trade, receiving supply from artisinal miners in neighbours such as Ghana and Guinea.

Gold producers including Randgold Resources and AngloGold Ashanti have operations in Mali.

The revenues for 2015 included 165.5-billion CFA in taxes, 33.898-billion CFA in customs duties and 45.57-billion CFA in dividends and other income streams, Ouedrago said.

He added that gold contributed 6.2% to GDP last year, against 6.5% in 2014.

The land-locked country expects to produce 47.37 tonnes of gold this year, lower than an earlier forecast of 52.85 tonnes, owing to a failure to restart its Kodieran mine.

In March, Mali upgraded its estimated of below-ground gold reserves by a third to 800 tonnes, enough to maintain current levels of output for the next 15 years.

Tags: AngloGold AshantiKodieranMohamed OuedragoPlanning and Statistics UnitRandgold Resources
Previous Post

South Africa’s civil rights groups demand to see “hidden” documents on nuclear deal

Next Post

Why companies need ISO 55000 accreditation

Newton Mthethwa

Newton Mthethwa

Related Posts

100% Automation for Gold Mine in Mali
Mali

100% Automation for Gold Mine in Mali

June 12, 2018
Randgold terminates joint venture partnership in Mali
Mali

Randgold terminates joint venture partnership in Mali

May 11, 2018
Cash-strapped gold miner uncertain of future in DRC
Company Profiles

Ashanti Gold Corp recruits John Robins as a strategic advisor

April 4, 2018
Mali government warns it could act  unilaterally on mining code
Legislation

Mali government warns it could act unilaterally on mining code

March 19, 2018
Mali: Informal Gold Mining Resumes After Three Month Suspension
Mali

Mali: Informal Gold Mining Resumes After Three Month Suspension

October 6, 2017
B2Gold  Three Months Ahead of Target to Start Processing Ore
Mali

B2Gold Three Months Ahead of Target to Start Processing Ore

September 28, 2017
Next Post
Why companies need ISO 55000 accreditation

Why companies need ISO 55000 accreditation

Please login to join discussion
Digital magazine of current hard copy issue
African Mining Brief

Providing news, insights and opportunities for the African mining industry.

Follow Us
Twitter LinkedIn Facebook Blogger
About African Mining Brief
Contact Us
Careers
Advertise
Submit Article
Magazine Archive

© 2018 African Mining Brief - Powered & Designed by Marque Studio.

No Result
View All Result
  • Home
  • Events
  • Industries
    • Energy
    • Equipment
    • Fuel and Fleet Management
    • Legislation
    • Mining
    • Products
    • Technology
    • Water
  • People
  • Insights
  • Videos
  • Advertise
  • Magazine Archive
  • Blog

© 2018 African Mining Brief - Powered & Designed by Marque Studio.