Gold miners’ shares tumble following Mali military coup, but operators insist they can continue – by Niall McGee (Globe and Mail – August 20, 2020)

A military coup d’état in Mali raised the possibility of eventual supply chain disruptions for B2Gold Corp., the Vancouver-based miner that operates one of West Africa’s biggest gold mines, and underscored the risks for Canadian companies operating in the politically unstable region.

On Tuesday, Mali president Ibrahim Boubacar Keïta resigned after being detained by mutinous military officers in the capital city of Bamako. The soldiers, who are part of a group called the National Committee for the Salvation of the People, vowed to cede power once democratic elections are eventually held.

The coup came after months of protests against the previous Mali government and amid periodic insurgency from terrorist groups. Internationally the coup was condemned.

Both the United Nations and the African Union (AU) called for the immediate release of Mr. Keïta. The Economic Community of West African States (ECOWAS) also ordered its member states to close their regional borders with Mali.

“There’s a heck of a lot of uncertainty as far as who’s actually running this country right now,” said Chris Thompson, analyst with PI Financial.

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