Mali gold refinery with Russian shareholder to seek Good Delivery status
KAZAN. June 27 (Interfax) - The gold refinery in Mali that Russia's Yadran Group is organizing the construction of will meet the standards needed to qualify for Good Delivery status, the Tatarstan-based group told Interfax.
"The goal of the project is full compliance with the standards needed to obtain Good Delivery status. We are incorporating all technological and organizational solutions taking into account the requirements for this type of certification. This issue is one of our priorities," a spokesman for the group said.
The company cannot say exactly when the refinery might receive Good Delivery status, since the process depends on outside certification organizations, he added.
He also said that the possibility of re-refining gold from Russian refineries at the new plant in Mali so that it can secure Good Delivery status is not being considered.
The cornerstone laying ceremony for the future refinery was held on June 16. Construction is scheduled to be completed in 18 months, after which the refinery will go into operation and gradually achieve design capacity of 100 tonnes per year in the first phase, with the option for expansion to 200 tonnes per year.
Yadran Group said most of the feedstock will come from Malian mining companies. The possibility of sourcing gold from other African countries in the Sahel region is also being considered.
The project operator is Soroma SA, which is 62% owned by the Malian government. The other 38% of shares are controlled by Yadran Group and its strategic partners, whom the company is not naming due to "confidentiality agreements."
The website of Mali's Ministry of Mines said that the refinery project is the result of cooperation between Mali and Russia through Yadran and a Swiss investment company. Mali is one of the largest gold producers in Africa.
Yadran Group's main business is production, refining and sales of crude oil and oil products, and processing of oil waste. The group also includes a biopolymer plant, dairy plant and a construction company that specializes in civil construction and building facilities for the oil and gas sector.
