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Birimian completes deal in Mali for N’tiola gold ore processing

Copyright © 2019 by S&P Global Market Intelligence, a division of S&P Global Inc. All rights reserved.

Birimian Ltd. said Jan. 16 that it reached an agreement with Mali’s Société des Mines de Morila SA to allow ore from Birimian’s N’tiola mine in the country to be blended with Morila mine tailings for processing through the Morila plant.

The deal incorporates metallurgical accounting procedures aimed at protecting the interests of both parties, lowering operating costs and improving recovery.

Birimian retains the right to recover a royalty on the N’tiola ore.

Negotiations are ongoing for similar agreement relating to ore from the Viper deposit.

In May 2018, the government of Mali approved the extension of Morila’s mineral exploitation permit to the Viper and N’tiola areas of interest.

Société des Mines de Morila is a joint venture between Randgold — prior to its merger with Barrick Gold Corp. — AngloGold Ashanti Ltd. and the government of Mali.

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