Mali miners monitoring situation after political unrest, alleged coup
Gold miners with operations in Mali, including Aim-listed Hummingbird Resources and TSX-listed B2Gold, are closely monitoring the situation in that country following the apparent forced resignation of Mali President Ibrahim Boubacar Keita after an alleged coup d'etat by the country’s military on Tuesday.
Keita resigned hours after soldiers reportedly seized him from his home, following months of mass protests against alleged corruption and worsening security in the West African country.
Hummingbird's Yanfolila gold mine is located about 280 km southwest of the Mali capital, Bamako, while B2Gold owns Fekola mine and the Anaconda exploration project in the country.
The miners both report that their operations have, as yet, not been affected by the unrest in the country.
Hummingbird, which has been operating in Mali since 2015 and been in production since December 2017, notes that its security team is in regular contact with the operational and management team regarding the ongoing safety of its staff, operations and assets.
The miner states that the safety of its employees and contractors remains of the “upmost importance”.
B2Gold notes that its Fekola mine has sufficient supplies on hand to maintain its budgeted activities through the end of the third quarter, and beyond, if needed. The miner also reports that its Fekola mill expansion remains on schedule, while its operational days have not been impacted as a result of the political situation in the country.
B2Gold notes that all mine personnel are safe.
ASX- and LSE-listed Resolute Mining reports that it too is monitoring development in Mali. The company's Syama mine is located in the south of Mali on the border with Côte d'Ivoire.
Operations at Syama are continuing as normal, with no impact to production or the safety and security of employees and contractors.
London-listed Cora Gold reports that its Sanankoro project, in southern Mali, is also unaffected at this stage.
Other gold mines in Mali include Barrick Gold Corporation's Loulo-Gounkoto mine; the Morila mine, which is a joint venture between Barrick and AngloGold Ashanti; and the Sadiola mine, which is owned by AngloGold and Iamgold.
Despite assurances that their operations have not been affected, the gold miners' share prices have fallen.
Hummingbird's share price on the LSE fell by as much as 15%, Resolute's share price by as much as 19.63% and Cora's share price by as much as 15% on August 19.
AngloGold's share price on the JSE was down 3.80% late on Wednesday.
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