Malian Minister of Mining, Amadou Baba Sy, on Wednesday laid the foundation stone of a new gold-exploiting factory in Nampala, located in the rural community of Finkolo-Ganadougou, southern Mali, PANA has learnt.
The factory will be built by Robex-SA, a Canadian company which specializes in mine exploration.
The project will cost US$ 53 million (about CFAF26.5 billion).
When completed, the mine will have a production capacity of 5.200 tons a year and will create at least 200 permanent jobs while contributing up to CFAF 9 billion a year to the local economy.
The first gold product is expected to roll out and be sold by late 2013.
The Canadian company has nine exploration licenses in Mali, three of which are for the Sikasso region while the six others are for the Kayes region.
The building of the Nampala factory will further enhance Mali’s ranking in gold production in Africa.
Mali currently ranks third behind South Africa and Ghana in gold production.