Mali coup group ask for mining to continue 28-Mar-2012 by AAP Oklo Resources says the military coup in Mali is not expected to affect the gold explorer as it has been asked by the new administration to continue operations. Perth-based Oklo said a senior representative of the coup group on Monday held discussions with spokespeople for seven foreign gold mining companies, requesting that mines continue to operate despite border closures at the time. The representative of the coup group, which had dubbed itself the National Committee for Redressing Democracy and Restoring the State, acknowledged the importance of the mining industry to Mali's economy, Oklo said. The representative pledged to ensure that fuel and other mine supplies would be allowed to enter the country. Oklo's 75 per cent-owned company in Mali was operating normally and did not expect a planned drilling program in May would be disrupted by the political upheaval, the company said in a statement. The explorer understood that the mood in the country was calm, the civil service had returned to work on Tuesday and the main airport at the capital Barnako had resumed operations. Oklo said the coup leader, Captain Amadou Sanogo, had indicated that the military did not wish to stay in power and wanted to proceed with democratic elections in three to nine months. "The fate of the presidential election scheduled for 29 April 2012 is not known at this time," Oklo said. AngloGold Ashanti chief executive Mark Cutifani told reporters in Perth on Tuesday that it appeared some of the insurgents from the north of the country may be associated with previous military factions in Libya. "That's not been confirmed," Mr Cutifani said. He said Mali had been a good place to do business because the West African nation was usually politically stable. "We'll just keep our head down and try to do the right thing, and be supportive of whoever is in the local area, the local community." AngloGold Ashanti had previous experience with coups in Africa, Mr Cutifani said. The company in early 2009 was forced by Guinea's ruling junta to briefly close its Siguiri mine after a senior company official did not attend a scheduled meeting with then-president Moussa Dadid Camara. Camara's forces in September that year perpetrated a massacre of opposition supporters at a stadium in the capital Conakry. Camara in December 2009 was shot in the head in an assassination attempt by men loyal to his personal assistant Aboubacar Sidiki Diakite.
PIR Price at posting:
$1.09 Sentiment: Buy Disclosure: Held