Mali’s Gold Production Due to Sink in 2014

Reuters reported that in 2014, Mali’s gold production will sink on the back of the closure of the Yatela mine, which is partially owned by AngloGold Ashanti Ltd. (NYSE:AU) and IAMGOLD Corp. (TSX:IMG,NYSE:IAG).

As quoted in the market news:

‘Production will fall because the Yatela mine will close in a year. We are already in the process of closing the mine,’ Boubou Cisse told a press conference in the capital Bamako.

AngloGold Ashanti, which operates Yatela, and Iamgold each have a 40 percent stake in the mine. The Malian state owns the remaining 20 percent.

Cisse said industrial production is forecast to fall to 46 tonnes this year from 47 tonnes in 2013. Artisanal miners will produce an additional four tonnes, bringing total production to 50 tonnes, down from 51 tonnes last year.

Click here to read the full Reuters report.