Countries Of West Africa Mali Sees Gold Mining Boom}

Submitted by: Mining Jxsc

As world gold prices soar, gold mining is picking pace to meet demand. The West African nation of Mali is seeing a boom in the industry of artisanal mining of gold, as gold became the third highest earner of foreign exchange in the country, after cotton and livestock.

The methods can be centuries old and laborious, but minors are discouraged because they seek the precious metal could change their lives forever.

With rich resources and a stable political environment, Mali offers one of the most promising for mining gold places.

Yacouba Keita Artisanal Miner said, “We work in a group of 12 and all I can find gold becomes me.”

Mali is the third largest gold producer countries in Africa, with a production of 50-60 tonnes of gold per year.

According to government data, the artisanal mining sector has grown, with about 200,000 people and produces about four tonnes of gold per year.

But local authorities fear that communities have abandoned agriculture, in the hope of making a fortune in the mines. To avoid a food crisis, the government plans to close all gold mining sites artisanal miners during the rainy season. But that was met with some resistance.

Seydou Keita President of Dabale committee said: “Our problem is that the authorities have closed the site during the rainy season. But how can we expect a child to return to agriculture when it can make money worth the value of 10 or 20 bags of grain on a good day. “

As investors seek shelter options in a volatile global economy, the price of gold continues to rise. Analysts say this means extraction of gold will continue to rise in places like Mali.

The government expects gold production of Mali to increase 20 percent in 2011 to 60 tonnes, with a further increase of 62 tonnes in 2012.

Gold producer Mali grants four permits in Qatar Mining.

Doha: Mali awarded four exploration licenses in Qatar Mining, mines minister said, as the country of West Africa seeks to increase exploration to offset aging mines.

“Qatar Mining opened its entity Mali We give them four mining concessions -. Greenfield projects – they will grow in the coming years,” said Boubou Cisse.

The agreement follows a meeting between Ibrahim Boubacar Keita President and Investment Team Qatar last month.

“This company (Qatar Mining Mali Greenfield) represent the interests of Qatar and Mali in the region as they say they would do their basis for Mali West Africa” Lassana Guindo, a ministry official, said.

A document describing the investment shows Qatar Mining licenses cover four areas – Tabako, Mininko North Netekoto and Linguekoto west and south.

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