19th Aug 2020 11:41
(Alliance News) -Â Resolute Mining Ltd and Cora Gold Ltd on Wednesday said they are monitoring developments in Mali following the resignation of President Ibrahim Boubacar Keita.
Mali's president early Wednesday said he was resigning to avoid "bloodshed", hours after his arrest by troops in a coup. Keita's government had been beset by months of protests over economic stagnation, corruption, and a brutal Islamist insurgency that has claimed thousands of lives.
Rebel soldiers took Keita and Prime Minister Boubou Cisse into custody on Tuesday afternoon and drove the pair to a military base on the outskirts of Bamako, which they had seized that morning. Keita appeared calm as he appeared in a state television broadcast soon after midnight to declare the dissolution of the government and national assembly, and said he had no choice but to resign with immediate effect.
Resolute said operations at its Syama gold mine, located in the south of Mali on the border with Cote d'Ivoire, are "continuing as normal" with no impact to production or the safety of employees.
Resolute has operated Syama since 2003.
Cora Gold said operations at its Sanankoro gold project in southern Mali also are continuing as usual.
"The safety of Cora's employees and contractors remains our upmost priority and the company will continue to monitor the situation as it evolves and provide further updates as necessary," Cora said.
Shares in Cora Gold were down 6.7% at 10.50 pence in London on Wednesday, while Resolute Mining shares were down 14% at 62.08p.
Hummingbird Resources also on Wednesday said it is "closely monitoring" the situation in Mali and has seen no current impact on its operations and production at the Yanfolila mine, located around 280 kilometres south west of Bamako.
Hummingbird shares were down 9.2% at 31.33p.
By Lucy Heming;Â [email protected]
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