off-the-wire

Mali forecasts 3.5% decline in industrial gold output in 2023

Kitco Media
By Reuters
Published:
Updated:
Reuters

BAMAKO, Feb 28 (Reuters) - Mali expects industrial gold output to fall by about 3.5% to 63.9 tonnes in 2023 from 66.2 tonnes the previous year, the mines ministry said on Tuesday.

Mali is one of Africa's top gold producers and home to industrial mines operated by companies including Barrick Gold (ABX.TO), B2Gold Corp (BTO.TO), Resolute Mining (RSG.AX), AngloGold Ashanti (ANGJ.J) and Hummingbird Resources (HUMR.L).

The decline is mainly due to a drop in production expected at Barrick Gold's Somilo/Gounkoto mine and B2Gold's Fekola mine, said Mamadou Sidibe, head of the statistics department at the mines ministry.

Barrick Gold remains the country's biggest gold producer, with output expected to reach 21.1 tonnes in 2023, followed by B2Gold at 18.4 tonnes and Resolute Mining at 7 tonnes, he said.

With an estimated 6 tonnes produced in artisanal mines, Mali's total gold production this year is expected to reach 69.9 tonnes, Sidibe said.

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