Donation Amount. Min £2

Mali has initiated construction of a new gold refinery backed by Russia, marking a step towards the country’s goal of asserting greater control over its natural resources, according to a Reuters report.

The facility, with a 200 tonne (t) capacity and a controlling stake held by Mali, is a joint venture (JV) with Russia’s Yadran Group and a Swiss investment firm.

The new refinery is expected to become a regional processing hub for gold, not only from Mali but also from neighbouring countries such as Burkina Faso. 

Despite West Africa’s status as a major gold producer, the region has lacked a functional and globally certified gold refinery.

This has been a long-standing gap in the market despite previous attempts to establish such a facility, including by Ghana, the continent’s leading gold producer.

Mali’s interim president Colonel Assimi Goita has emphasised the refinery’s role in improving the tracking of gold production and exports.

He pointed out that, like many African nations, Mali suffers significant financial losses due to gold smuggling, exacerbated by the lack of certified refineries and traceability programmes.

The construction of the refinery is part of broader mining reforms under Mali’s military leader, who assumed power in 2021.

These reforms have included a revised mining code that aligns with changes in neighbouring countries such as Guinea, Niger and Burkina Faso, causing unease among investors.

Tensions have been evident in Mali’s mining sector, as seen with the recent court decision to place the Loulo-Gounkoto gold complex operated by Canadian mining company Barrick under temporary state control amidst a tax dispute. Mining Technology

 

About IEA Media Ltd

Informer East Africa is a UK based diaspora Newspaper. It is a unique platform connecting East Africans at home and abroad through news dissemination. It is a forum to learn together, grow together and get entertained at the same time.

To advertise events or products, get in touch by info [at] informereastafrica [dot] com or call +447957636854.
If you have an issue or a story, get in touch with the editor through editor[at] informereastafrica [dot] com or call +447886544135.

We also accept donations from our supporters. Please click on "donate". Your donations will go along way in supporting the newspaper.

Get in touch

Our Offices

London, UK
+44 7886 544135
editor (@) informereastafrica.com
Slough, UK
+44 7957 636854
info (@) informereastafrica.com

Latest News

British Ambassador Visits Garowe to Strengthen Somalia-UK Ties

British Ambassador V...

Garowe, Puntland – British Ambassador to Somalia, Charles King, made his first visit to Garowe, the...

Judges call for a review of violent robbery sentence

Judges call for a re...

Justice John Mativo during a Virtual hearing of an election petition by former Nairobi Governor Mik...

Transaid hosts second motorcycle helmet safety ET SAFETY SUMMIT IN NAIROBI

Transaid hosts secon...

Transaid, in partnership with the FIA Foundation, hosted the second Safe African Helmets Initiative...

Church Leaders Urge Politicians To Rise Above Individual Interests

Church Leaders Urge...

The Most Rev Dr. Justin Badi Arama, the Chair of the South Sudan Council of Churches and the Primate...

For Advertisement

Big Reach

Informer East Africa is one platform for all people. It is a platform where you find so many professionals under one umbrella serving the African communities together.

Very Flexible

We exist to inform you, hear from you and connect you with what is happening around you. We do this professionally and timely as we endeavour to capture all that you should never miss. Informer East Africa is simply news for right now and the future.

Quality News

We only bring to you news that is verified, checked and follows strict journalistic guidelines and standards. We believe in 1. Objective coverage, 2. Impartiality and 3. Fair play.

Banner & Video Ads

A banner & video advertisement from our sponsors will show up every once in a while. It keeps us and our writers coffee replenished.