Gold pour at the Randgold Resources Loulo mine in Mali

Bamako, Mali --- MININGREVIEW.COM --- 22 December 2009 - The West African state of Mali ‒ Africa's third biggest gold miner ‒ estimates that it will produce 52.4 tonnes of gold in 2010, earning the country 130 billion CFA francs during the year.

Announcing this here, the deputy head of the mines and geology department in Mali's ministry of mines, Waly Diawara, confirmed that the projected output for 2010 would show a slight increase over the 49.5 tonnes the country would have produced by the end of 2009.

Gold currently accounts for around 15% of gross domestic product and about 70% of exports in Mali. The country’s revenues from gold only broke through the 100 billion CFA per year mark in 2008 for the first time.

Mali has joined the Extractive Industries Transparency Initiative (EITI) as part of its efforts to improve accountability in its mining sector.