Just like most countries in Africa, the economy of Mali is diverse and thriving. For so many years the Mali Mining Industry has been an important influence and key player for country and its people.
If we have to date back to when commercial mining first begun we get taken to the ear of 1984. This was when commercial gold mining started and back then it only accounted for 1.5% of Mali’s Gross Domestic Product (GDP). Roughly 7 years later this small percentage was no longer the case; after a commercial mining code with improved standards was implemented commercial gold production flourished from 4 metric tonnes that year to 48 metric tonnes in 2008. At the same Mali loosened up with regards to the country’s mining code.
Mali Mining Industry facts
Rising international gold prices have improved the Mali Mining Industry which has resulted in increased exploration, investment, and production. The upsurge in gold prices has almost doubled Mali’s profit on gold production. Mali’s Mining Industry has a lot of mineral wealth and gold has become Mali’s second-largest export (after cotton). Did you know that Mali is West Africa’s second largest gold producer? The figures for the Mali Mining Industry indicate abundant employment opportunities and long term growth for the country. Mali has the potential to develop diamond explorations. 30 kimberlitic pipes have been discovered of which eight show traces of diamonds. Diamonds have also been picked up in southern Mali.
- Over 1.3 million tonnes of possible iron ore reserves have been identified in the areas of Djidian-Kenieba, Diamou, and Bale.
- Bauxite reserves are estimated to be 1.2 million tonnes;
- 42.2 million tonnes of calcareous rock deposits;
- Roughly 46 million tonnes of copper reserves;
- 1.7 million tonnes of lead and zinc;
- an estimated potential of 4 million lithium reserves;
- 53 million tonnes of rock salt;
- 65 million tonnes of diatomic potential;
- An estimated 870 million of bitumen schist.
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