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Closure of Morila gold mine in Mali pushed back to 2019

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Closure of Morila gold mine in Mali pushed back to 2019

The Mines Ministry of Mali said that the Morila gold mine will now be closed in 2019 — insteadof 2017 — after its reserves were found to be larger than initially estimated, Reutersreported March 29.

Morila — owned by RandgoldResources Ltd., AngloGoldAshanti Ltd. and the local government — was initially projected to closein 2013, but the closing date was later moved back to 2017.

The mine has produced 209 tonnes of gold since it opened in 2000.Its production has been decreasing in recent years, with output this year expectedto shrink to 2.8 tonnes from the 4.7 tonnes produced in 2015.

Research is underway to develop small satellite mines aroundMorila, Reuters cited Karim Berthe, a senior official at the Mines Ministry, assaying.