Zimpapers Logo

Mali and Russia have signed a deal on the construction of a gold refinery in the West African country’s capital, Bamako, Reuters reported, citing Malian Finance Minister Alousseni Sanou.

In an interview on state television, Sanou said the non-binding memorandum of understanding envisages the construction of a 200-ton-per-year gold processing plant, which, once completed, would be the largest of its kind in the country.

“This will allow us not only to control all gold production but also to be able to correctly apply all taxes and duties,” Sanou was cited as saying.

The document is valid for four years, the minister added, without providing further details about the construction timeline.

Mali ranked among Africa’s top four gold-producing countries last year, behind South Africa, Ghana, and Burkina Faso, with an output of 66,2 tons of industrial gold. While Mali’s mining industry is dominated by gold extraction, the country also produces diamonds, rock salt, phosphates, semi-precious stones, bauxite, and iron ore. — Russia Today