Mining
Mining has long been an important aspect of the Malian economy. Gold, the third largest source of Malian exports, is still mined in the southern region: at the end of the 20th century Mali had the third highest gold production in Africa (after South Africa and Ghana). These goldfields, the largest of which lie in the Bambouk Mountains in western Mali (Kenieba Cercle), were a major source of wealth and trade as far back as the Ghana Empire. As well, salt mining in the far north, especially in the Saharan oases of Taoudenni and Taghaza have been a crucial part of the Malian economy for at least seven hundred years. Both resources were vital components of the Trans-Saharan trade, stretching back to the time of the Roman Empire.
From the 1960s to the 1990s state owned mining—especially for gold—expanded, followed by a period of expansion by international contract mining.
In 1991, following the lead of the International Development Association, Mali relaxed the enforcement of mining codes which led to greater foreign investment in the mining industry. From 1994 to 2007, national and foreign companies were granted around 150 operating licences along with more than 25 certificates for exploitation and more than 200 research permits. Gold mining in Mali has increased dramatically, with more than 50 tonnes in 2007 from less than half a tonne produced annually at the end of the 1980s. Mining revenue totaled some 300 billion CFA francs in 2007 more than a thirty times increase from the 1995 total national mining revenue of less than 10 billion CFA. Government revenues from mining contracts, less than 1% of the state income in 1989 were almost 18% in 2007.
Read more about this topic: Economy Of Mali
Famous quotes containing the word mining:
“In strict science, all persons underlie the same condition of an infinite remoteness. Shall we fear to cool our love by mining for the metaphysical foundation of this elysian temple? Shall I not be as real as the things I see? If I am, I shall not fear to know them for what they are.”
—Ralph Waldo Emerson (1803–1882)
“For every nineteenth-century middle-class family that protected its wife and child within the family circle, there was an Irish or a German girl scrubbing floors in that home, a Welsh boy mining coal to keep the home-baked goodies warm, a black girl doing the family laundry, a black mother and child picking cotton to be made into clothes for the family, and a Jewish or an Italian daughter in a sweatshop making “ladies” dresses or artificial flowers for the family to purchase.”
—Stephanie Coontz (20th century)
“Any relation to the land, the habit of tilling it, or mining it, or even hunting on it, generates the feeling of patriotism. He who keeps shop on it, or he who merely uses it as a support to his desk and ledger, or to his manufactory, values it less.”
—Ralph Waldo Emerson (1803–1882)