RUSSIA TO BEGIN EXPLORATION FOR LITHIUM, OIL, GAS DEPOSITS IN MALI NEXT MONTH

Thu 03 October 2024:

Russia will begin geological exploration for lithium, oil and gas deposits in Mali next month, a top official said in Bamako on Wednesday.

The official, requesting anonymity, told Anadolu that according to Mali’s Economy and Finance Minister Alousseini Sanou the first group of Russian specialists will arrive next month to begin work, with the timetable for the next stages of the process already established. The development comes as Sanou and Energy Minister Bintou Camara are in Moscow on a one-week trip to discuss investment opportunities.

The official said cooperation with Russia will allow the West African nation to “obtain the resources necessary to ensure the financing of other economic sectors.”

Mali, Burkina Faso and Niger are members of Alliance of Sahel States, formed in September last year.

The three nations withdrew from the Economic Community of West African States, or ECOWAS, which had threatened to intervene militarily in Niger following a coup in that country last year.

Since then, the three nations have worked together to combat terrorism and integrate in areas such as single passport, communications, and diplomacy.

Mali is rich in natural resources, including lithium, oil, and gas deposits, which are attracting increasing global attention.

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Lithium

In recent years, Mali has emerged as a significant player in the global lithium market, thanks to the discovery of large reserves in its Bougouni region. The Goulamina lithium project, operated by international companies, is one of Africa’s largest lithium mines.

This has put Mali on the map as a potential supplier of lithium, which is crucial for electric vehicle batteries and renewable energy technologies.

Oil and Gas

Mali’s oil and gas potential is less developed but still promising. The country’s sedimentary basins, particularly the Taoudeni Basin in the north, are believed to contain substantial oil and gas reserves.

However, due to political instability, security challenges, and underdeveloped infrastructure, exploration activities have been limited. Despite these challenges, international companies have shown interest in Mali’s hydrocarbon potential, and the government has been working to attract investment for further exploration.

Together, Mali’s lithium, oil, and gas resources hold the potential to boost its economy significantly, though their development faces hurdles due to political and security issues.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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