One of Africa's biggest producers of gold, Mali's output rose to 71.1 metric tonnes in 2019, the government has said, and the state earned revenue of 403.6 billion CFA ($734m) from gold mining companies. The mining sector accounted for 9.7 percent of Mali's GDP in 2019.
Gold operations in the vast, land-locked nation are located in the south and west, hundreds of kilometres from the capital Bamako where the coup took place. Many miners continued to operate during a 2012 coup.
Barrick Gold, the biggest miner in Mali, said its Loulo-Gounkoto mine complex - which analysts at Scotiabank estimate will account for 9 percent of the company's production this year - had not been affected.
B2Gold, Resolute Mining, AngloGold Ashanti, Hummingbird Resources and Cora Gold said operations and staff were unaffected, but traders sold shares because of increased political risk.
Resolute Mining shares fell 11.7 percent, Hummingbird dropped 9.4 percent, B2Gold fell 8.8 percent, AngloGold Ashanti lost 4 percent and Barrick fell 2.7 percent. Cora Gold shares were down 9.3 percent, Mali Lithium down 21%.
MVL Price at posting:
5.9¢ Sentiment: Hold Disclosure: Held
