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Mali sees 2008 gold output falling 12 pct to 50.11 tonnes

Mon 18 Feb 2008, 15:19 GMT
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BAMAKO (Reuters) - Mali, sub-Saharan Africa's third largest gold producer, expects its gold output to fall 12 percent this year to 50.11 tonnes after a similarly sharp decline last year, a mines ministry forecast showed on Monday.

Gold output in the West African country fell 9 percent to 56.75 tonnes in 2007 as its established mines neared the end of their productive lives and miners concentrated on new finds, according to ministry data seen by Reuters.

"We've started the phase of lower production," Lassana Guindo, head of the ministry's mines division, told Reuters.

"Most of the big mines have reached the end of their lives and encouraging exploration is underway to find new resources and increase their lifespan," he said.

Mali is Africa's third biggest producer of gold after South Africa and Ghana.

 
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