35.9 C
Tuesday 15 June 2021
HomeNewsUAE to invest in Malian mining industry

UAE to invest in Malian mining industry

Mali, the third African gold producer behind South Africa and Ghana, with a production of 50 tons per year, plans to build a gold refinery to be financed to the tune of US$29 million by the UAE fund.

The President of the Malian Chamber of Mines, Abdoulaye Pona, who made the announcement, said the refinery would be built in Senou (south of Bamako) on a 6-hectare site, which will also host mining industry-integrated workshops not only for cutting gems, but also manufacturing high-end jewelry.

The site will also host a modern certification laboratory, while an agreement is being finalised between the Chamber of Mines and UAE investors, in Bamako, for the establishment of a private investment bank interested in financing miners, owners of small mines as well as promoters of projects relating to this sector.

Mali’s gold mining sector is worth between US$300 and US$450 million annually


Please enter your comment!
Please enter your name here

- Advertisement -