https://www.engineeringnews.co.za

Allied Gold gets Mali’s go-ahead for new project near Sadiola

9th January 2025

By: Bloomberg

  

Font size: - +

Mali signed an agreement with Canada’s Allied Gold for a 35% stake in a new mine in connection to its Sadiola project.

Known as Korali-Sud, the new project will be managed under Mali’s new mining code, Mines Minister Amadou Keita told public broadcaster ORTM.

Mali will benefit from dividends through “the application of all the texts in force, in particular the 2023 code,” said Finance Minister Alousseni Sanou.

The move comes as Mali’s seeking more revenue from its mineral resources through a new mining code. The new code, which grants the government and private actors up to a 35% stake in mining operations, has lead to disputes between some miners and the ruling junta.

Expected revenue from the Allied deal is about 120-billion CFA franc ($188-million) annually, according to Sanou. The project’s resources are estimated to 200 000 oz.

Allied has also started work on the second phase of Sadiola after Mali’s government in October renewed its operating license for a period of 10 years.

Development of the second phase is estimated at $500-million, according to Allied Gold Mali’s vice president, Ilias Keita.

 

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Egoli Gas (Pty) Ltd
Egoli Gas (Pty) Ltd

As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.

VISIT SHOWROOM 
Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.064 0.841s - 140pq - 2rq
Subscribe Now