BAMAKO, Feb. 7 (Xinhua) -- Mali will integrate its mineral resources into the country's "overall search for stability," Minister of Mines Amadou Keita said on Friday.
"The discovery of new mineral deposits should not be seen merely as a result of mining investment," he told a session of the 7th Ordinary Meeting of the Economic, Social, Environmental, and Cultural Council. "Today, it is a geopolitical and geostrategic issue that Mali must incorporate into its overall quest for stability."
The theme of the meeting, which has been underway since Monday, is: "The Mining Sector in Mali: Towards an Exploitation that Combines Economic, Social, and Cultural Development with Environmental Protection."
The minister said that "so-called strategic or critical minerals are reshaping international relations and power dynamics."
Mali, "rich in rare-earth elements and other strategic substances, now has the capacity to develop these deposits, assess their reserves, and position itself as a global market player," Keita said.
He said that the country's mining industry, which has been primarily gold-based for over 30 years, is now diversifying, with the opening of a lithium mine in Gouloumina in southern Mali, last December, and ongoing oil exploration efforts.
Keita acknowledged that the policy of resource diversification faces "significant investment challenges."
According to the Extractive Industries Transparency Initiative, mining contributes to about 10 percent of Mali's gross domestic product and 22 percent of its public revenues, with gold accounting for 80 percent of the country's exports. Enditem
Go to Forum >>0 Comment(s)