Mali: Cora Gold may break ground by end-year at Sanankoro

By David Whitehouse
Posted on Tuesday, 26 July 2022 06:00

Cora Gold drilling at Sanankoro in southern Mali. Photo supplied.

London-listed Cora Gold may start construction of a gold mine at Sanankoro in Mali by the end of the year after an increased mineral resource estimate in July, CEO Bert Monro tells The Africa Report.

The company plans a definitive feasibility study (DFS) for the project in the third quarter. Cora will seek to raise debt and equity financing, with the amount sought to be decided after the DFS, Monro says. The mine will take an estimated 18 to 24 months to build, he adds.

Mali is one of Africa’s biggest gold producers, hosting companies such as Barrick Gold and B2Gold. The industry has welcomed the decision by the Economic Community of West African States (ECOWAS) at the start of July to lift sanctions on the country following coups in August 2020 and May 2021.