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Mali: Mining, Minerals and Fuel Resources 

Political instability and militant activities in many regions has had an adverse effect on Mali’s economy. The government was toppled by a military coup in the beginning of this year.

However, democratic rule was once again established due to pressure from the international community. The nation relies greatly on gold mining for revenue. This revenue, however, fluctuates according to the rise and fall of international gold price. As it is considered as one of the poorest countries in the world, the Mali government cooperated with the IMF in 2011 to complete the IMF extended credit facility program so as to enhance economic growth, diversify the economy, and attract foreign investment. Mali’s GDP in 2011 was recorded at $18.1 billion.

Mali is now working at developing its iron ore mining industries so as to divert foreign investment from gold to this sector. The natural resources of Mali are abundant consisting of gold, uranium, phosphates, limestone, kaolin, salt, gypsum, and granite.

Overview of Resources

Other than gold, no other mineral commodity was produced in huge quantities in 2010. However, semiprecious stones such as epidote, garnet, amethyst, prehnite, and quartz were also produced. Diamond was found in small quantities while mining for gold. Mali also has several other unexploited natural resources such as iron ore, lead, copper, nickel, manganese, bauxite, rutile, silver, talc, titanium, niobium, palladium, lithium, thorium, chromium, zirconium, marble, tungsten, and tin.