The sanctions and border closures imposed by the 15-state Economic Community of West African States on the West African nation of Mali after a coup last month are threatening cargo movement to-and-from the country’s gold mines.
But, reports Business Report, gold companies with mines in Mali are playing down the risk of border closures and fallout from the sanctions.
Randgold Resources, Mali's largest investor, said yesterday (Wednesday) it had enough supplies of fuel to sit out any immediate changes in the way it does business.
“There is no revolution and there is no conflict so there is no threat to life or limb,” Randgold Resources CE, Mark Bristow, told Reuters.
Bristow said the company, which sources two-thirds of its gold from Mali, had no problem bringing in fuel and shipping gold despite border closures designed to squeeze Mali's economy.
“Those sanctions haven't all been applied yet. They are being applied, I believe, but we are still shipping fuel and goods through some of the borders,” he added.
