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Mali inaugurates new gold mine

Mali on Monday inaugurated a new gold mine at Gounkoto, in the prefecture of Kenieba in the southeast of the country.

The mine, which is the ninth in the country, has an estimated reserve of 51.4 tons of gold and mining is expected to last eight years.

The new mine will create over 600 jobs and generate for the Malian state 250 billion CFA francs over eight years.

The mine is owned by the South Africa’s gold company Rand Gold (80%) while the remaining 20% is held by the Malian state.

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