Reuters reported that Mali's first gold refinery will be built in USD 58 million JV between Swiss Bullion Company and Malian firm PAMBC.

Mr Dario Littera director of Swiss Bullion Company said that the plant will be in southern Mali and is due to begin operations by November 2013. It will have a monthly capacity of 20 tonnes of ore.

Swiss Bullion Company and PAMBC signed the deal at a ceremony attended by the Mali's minister of mines. Mali is Africa's third biggest gold miner behind South Africa and Ghana and is on track to raise output despite the chaotic aftermath of a military coup which allowed militants to seize control of northern regions. Mali's gold is currently refined abroad, and the country produces about 50 tonnes of refined gold a year.

Source - Reuters

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