Mali's military government has formally inked a significant agreement with Russia, pivotal to the establishment of a gold refinery project in the Malian capital, Bamako. The deal entails the construction of a refinery with the capacity to process an impressive 200 tonnes of gold annually. Although the agreement spans four years, it does not specify the precise timelines for the construction phase.
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Gold holds a crucial position as Mali's foremost export product in terms of value, serving as one of the primary contributors to the country's economic growth, as highlighted by the country's mining ministry. The envisaged project aligns with Mali's strategic vision to exert greater control over the entirety of its gold production. According to Finance Minister Alousséni Sanou, the initiative carries the added benefit of enabling Mali to ensure the diligent application of all pertinent taxes and duties.
Bilateral Relations and Geopolitical Context
This collaboration further underscores Mali's recent efforts to fortify its ties with Russia, particularly in the aftermath of the 2021 military coup and the subsequent withdrawal of French forces from the country in the following year. The evolving dynamic between Mali and Russia signals a notable shift in diplomatic relationships and economic partnerships, reflecting the changing geopolitical landscape in the region.
SOURCE:
-GHANA WEB- "Mali signs Russia deal to build gold refinery"
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