Mali's gold miners carry on digging despite coup, shares hitOne of Africa's biggest producers of gold, Mali's output rose to 71.1 metric tonnes in 2019, the government has said, and the state earned revenue of 403.6 billion CFA ($734m) from gold mining companies. Barrick Gold, the biggest miner in Mali, said its Loulo-Gounkoto mine complex - which analysts at Scotiabank estimate will account for 9 percent of the company's production this year - had not been affected.
B2Gold, Resolute Mining, AngloGold Ashanti, Hummingbird Resources and Cora Gold said operations and staff were unaffected, but traders sold shares because of increased political risk.
B2Gold said its Fekola mine had sufficient supplies to maintain activities through the end of the third quarter "and beyond if needed".
"In the longer term, there are more clouds for mining investors as this is the second coup in eight years. It will add to an already very high-risk premium that people associate with Mali," Vincent Rouget, analyst at Control Risks Group said.