Africa Mining: Mali says gold mining revenues 14% up in 2016

Mali Gold mining
Mali Gold Mining

BAMAKO – Gold mining revenues in Mali increased by 14% in 2016 to $505-million, Mines Minister Tiemoko Sangare said on Tuesday, revising an earlier estimate.

Earnings in 2015 amounted to 245-billion CFA francs.

The West-African country is the third-biggest gold producer on the continent after South Africa and Ghana. Last year’s increase in Mali’s mining revenues coincided with an 8.5% rise in the price of gold in 2016.

Gold revenues included 190.4-billion CFA francs in export receipts and 61.6-billion CFA francs in taxes, and made up 6% of last year’s gross domestic product (GDP).

The mining revenue figure announced on Tuesday increases the estimate of 247.3-billion CFA francs which was announced earlier this year.(source: Reuters)

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