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Mali's first gold refinery to start in mid-2015: shareholder

Reuters    Translate This Article
9 June 2014

BAMAKO (Reuters) - Mali's first gold refinery should start production in mid-2015, its main shareholder said on Monday, after construction work was delayed by two years during political turmoil sparked by a northern Tuareg uprising.

Dario Littera, president of Swiss Bullion Co, said construction work on the Moussa Kankou refinery was scheduled to begin in September or October and should be completed by the middle of next year.

The refinery had originally been due to start production in November 2013 at an estimated cost of 52 million euros ($71 million).

Littera said Swiss Bullion was in talks with the Malian government for it to take a stake of up to 45 percent in the refinery.

'We would like this to be a state refinery and not a private one,' Littera told Reuters by telephone. 'The government could then make it mandatory for producers to refine their gold in the state refinery.'

'It would be a way for the government to control the export of gold,' he said.

The internationally certified refinery is expected to handle ore produced in Mali—the third-largest producer in sub-Saharan Africa behind South Africa and Ghana—as well as from other neighbouring countries.

Initial reports said the refinery would have a capacity of 20 tonnes of ore, but Littera said this could be expanded to as much as 50 tonnes of ore per month—including other metals such as silver and palladium.

Mali estimated its gold production was 47 tonnes last year. Littera said, however, the actual figure was probably much higher as the government's statistic ignored large quantities of gold produced by small and medium-sized miners in the artisanal sector.

($1 = 0.7341 euros)

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