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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: KyrosL who wrote (72602)2/23/2010 9:29:21 AM
From: Haim R. Branisteanu  Read Replies (1) of 74559
 
Not Only Gold Glitters

Mali, Africa’s third largest gold exporter with annual production of 50 tonnes, of which just 4 tonnes come from small scale mining, is increasingly betting on other substances to reinforce its status as a new destination for minerals. As well as an oil project run by Sonatrach of Algeria and Eni of Italy, Bamako is now looking to uranium. Deposits were identified in the 1980s by Japan Power Nuclear Corporation in the Adrar zone.

Oklo-Uranium Ltd, which has two permits covering 8000 km2, is currently undertaking research in this region in the south east of the country. In the Gao zone in the east, 200 tonnes of yellowcake have been identified at Sami.

Rockgate Capital Corp has identified 5000 tonnes in the Falea region in the south west on a site which the French nuclear group Areva prospected in the 1970s. Bauxite deposits have also been discovered by Eurasian Natural Resources Corp. (ENRC) in partnership with Mali Mineral Resources on the Sitadina permit. And indicators of lithium exist in the Bougouni, Sikasso and Kayes regions in the west.

Iron ore mining is far less advanced. The Indian company Sandeep Gard may mine iron ore this year on the Tienfala site in the western Koulikoro region.

Manganese also interests operators, and Mali’s reserves are estimated at 20 million tonnes. The Australian firm Metal-Mass Pty Ltd and LuLu of China have done research on this.

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