Mali to meet or exceed forecast for industrial gold output

Industrial gold production in Mali, one of Africa's top producers of the precious metal, is expected to reach or exceed its 57.3 metric tonnes forecast for 2024, according to the mines ministry.

Gold production from mines, mainly owned by Barrick Gold, B2Gold, Resolute Mining, Allied Gold and Endeavour Mining, stood at 30.5 tonnes in the first half of the year, surpassing the initial forecast of 28.4 tonnes by 7.2%, according to ministry statistics provided to Reuters.

Mali's forecast for the year is 57.3 tonnes, 14% lower than the 66.5 tonnes achieved in 2023.

Barrick Gold was the main producer in the first six months of the year with 11.7 tonnes, followed by B2GOLD with 8.3 tonnes and Allied Gold 3.9 tonnes, the data showed.

In November 2023, the West African Sahel country signed a memorandum of understanding with Russia to build a gold refinery with a capacity of 200 tonnes per year.

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