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Tuesday, 18 April 2017

Mali seeks more Indian investment for gold and agriculture

There is considerable scope for joint ventures between the two countries for the production of gold and fabrication and marketing of jewellery in Mali," the embassy said in an email interaction with IANS. The West African country currently produces 60 tonnes of gold per year. By: IANS | Accra | Published: April 18, 2017 4:53 PM 20 SHARES Facebook Twitter Google Plus “For Indian businessmen, Mali has great scope of investment especially in the field of agriculture (cotton, food processing, abattoirs and tanneries); mining (gold, iron ore, phosphates, uranium, bauxite, zinc, manganese, tin and copper); automobile (two-wheeler segment), and pharmaceuticals (generic drugs),” the embassy said. (Reuters) Mali offers good opportunities and prospects for Indian entrepreneurs and investors in the gold mining and food processing space, among others, the Indian Embassy in capital Bamako has said. “Mali is Africa’s third-leading gold producer (after South Africa and Ghana) and has an estimated reserve of 600-800 tonnes. There is considerable scope for joint ventures between the two countries for the production of gold and fabrication and marketing of jewellery in Mali,” the embassy said in an email interaction with IANS. The West African country currently produces 60 tonnes of gold per year. “For Indian businessmen, Mali has great scope of investment especially in the field of agriculture (cotton, food processing, abattoirs and tanneries); mining (gold, iron ore, phosphates, uranium, bauxite, zinc, manganese, tin and copper); automobile (two-wheeler segment), and pharmaceuticals (generic drugs),” the embassy said. With a population of around 15 million exposed to tropical diseases, Mali is also a good market for Indian generic medicines and pharmaceutical products. Also Watch: “There is already an awareness of our capabilities and competitiveness in this area, the Embassy said, adding that this needed to be translated into commercial contracts for Indian companies.” “Malian economy is primarily based on agriculture and livestock husbandry which together account for almost 50 per cent of the country’s GDP,” the embassy said, adding that “Mali is the second largest producer of long staple cotton in Africa, after Egypt.” It said the country is also one of the largest producers of mangoes in Africa but lacks processing facilities.

Source: Financial Express