عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Mali Gold Production Plunges 23% in 2024

Amadou Dabo displays roughly seven grams of gold he bought from small-scale miners for about $30 in Kalana, August 25, 2012. (Reuters)
Amadou Dabo displays roughly seven grams of gold he bought from small-scale miners for about $30 in Kalana, August 25, 2012. (Reuters)
TT
TT

Mali Gold Production Plunges 23% in 2024

Amadou Dabo displays roughly seven grams of gold he bought from small-scale miners for about $30 in Kalana, August 25, 2012. (Reuters)
Amadou Dabo displays roughly seven grams of gold he bought from small-scale miners for about $30 in Kalana, August 25, 2012. (Reuters)

Mali's industrial gold production plunged 23% to 51 metric tons last year from 66.5 tons in 2023, the West African country's mines ministry said.

Mali is one of Africa's top gold producers and home to industrial mines operated by international companies including Barrick Gold, B2Gold Corp, Resolute Mining and Hummingbird Resources.

A ministry document showed on Friday that the output number excludes Barrick Gold's December production following the company's dispute with Mali's military-led government related to a mining law introduced in 2023.

Barrick suspended operations at its Loulo-Gounkoto operation last month after authorities seized its gold reserves by helicopter. Four of its employees have been detained since November on charges including money laundering and financing of terrorism, which the company denies.

Mali's new mining code, which raises taxes and seeks to hand over big stakes in assets to the state, makes it uneconomic to invest in new mines or buy operations in the country, several mining chief executives told Reuters this week.

Mali's government says mining companies including Barrick have not been paying their fair share of taxes.

According to the ministry document, Mali's gold production fell below 60 tons for the first time in over three years.

It would stand at 52.7 tons if Barrick met its December forecast of 1.7 tons, the ministry's monthly estimates showed.

The ministry did not provide an explanation for the drop in production.

An official from the mines ministry told Reuters the government's conflict with mining companies could be the reason for the lower output. The sector faces a crisis of confidence after authorities demanded foreign companies migrate to the new mining code and arrested employees and executives, the official added.

According to the ministry's data, Barrick Gold remains the country's biggest gold producer, with an output of 19.4 tons in 2024 excluding December production, followed by B2Gold at 13.7 tons and Resolute Mining at 7.2 tons.

With an estimated 6 tons produced in artisanal mines, Mali's total gold production in 2024 is expected to reach 58.7 tons, the mines ministry said.

Most Viewed

 
 
Business

Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
TT
TT

Madinah Sees Tourism Surge Ahead of Ramadan, Spending Tops $13.9 Billion

A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 
A cluster of buildings and hotels surrounding the Prophet’s Mosque (SPA). 

Saudi Arabia’s Minister of Tourism, Ahmed Al-Khateeb, has toured hospitality facilities and visitor services in Madinah as part of the “Spirit of Ramadan” inspection tour, which also included Jeddah and Makkah.

New data show visitor numbers exceeded 21 million over the past year, a 12 percent increase from 2024, while total tourism spending reached SAR 52 billion (about $13.9 billion), up 22 percent.

The visit focused on assessing the sector’s readiness for the Ramadan season, evaluating service quality, and supporting ongoing and upcoming tourism projects.

Madinah posted strong tourism performance in 2025, driven by higher visitor inflows and expanded hospitality capacity, reinforcing its position as a leading religious destination within Saudi Arabia’s tourism landscape.

Demand growth has been matched by a sharp rise in supply. Licensed hospitality facilities increased to 610, up 35 percent, while the number of licensed rooms surpassed 76,000, a 24 percent gain, strengthening the city’s ability to accommodate during peak seasons such as Ramadan and Hajj.

Travel and tourism offices also grew to more than 240, reflecting a 29 percent expansion in supporting services.

Al-Khateeb said the entry of international hospitality brands and new projects over the past five years underscores both sectoral growth and rising investor confidence in the Kingdom’s tourism ecosystem.

“The landscape today is different. The sector is growing steadily, supported by a system that empowers investors and facilitates their journey, with a promising future ahead,” he said.

To expand hotel capacity, the minister inaugurated the Radisson Hotel Madinah, a project worth more than SAR 39 million (around $10 million) and financed by the Tourism Development Fund.

The 2025 performance signals a shift from traditional seasonal growth toward more sustainable expansion built on diversified offerings, improved service quality, and a stronger contribution to the local economy.

 

 

 

 

 

 

Business

Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
TT
TT

Airbus Planning Record Commercial Aircraft Deliveries in 2026

An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File
An Airbus A350-1000 at the Singapore Airshow on February 4. The company said Thursday it aims to deliver a record number of aircraft this year. Roslan RAHMAN / AFP/File

Plane maker Airbus aims to deliver a record number of commercial aircraft this year, the company said Thursday, capitalizing on "strong demand" and a jump in profit in 2025.

"2025 was a landmark year, characterized by very strong demand for our products and services across all businesses," CEO Guillaume Faury said in a press release announcing annual results.

The European manufacturer said it received 1,000 orders for commercial planes in 2025, with net orders of 889 after taking cancellations into account, and 793 delivered.

Last year, its overall profit jumped 23 percent to 5.2 billion euros ($6.1 billion).

The company said it is targeting "around 870 commercial aircraft deliveries" this year.

"As the basis for its 2026 guidance, the Company assumes no additional disruptions to global trade or the world economy, air traffic, the supply chain, its internal operations, and its ability to deliver products and services," it said in its outlook.

Both Airbus and its rival Boeing have struggled to return to pre-pandemic production levels after their entire network of suppliers was disrupted, even as airlines are eager to modernize their fleets with more fuel-efficient aircraft and expand to meet an expected increase in passenger numbers over the coming decades.

Business

Saudi Arabia's Humain Invests $3 Bn in Musk's xAI

The logo of the Saudi company Humain. Asharq Al-Awsat
The logo of the Saudi company Humain. Asharq Al-Awsat
TT
TT

Saudi Arabia's Humain Invests $3 Bn in Musk's xAI

The logo of the Saudi company Humain. Asharq Al-Awsat
The logo of the Saudi company Humain. Asharq Al-Awsat

Saudi Arabia's artificial intelligence firm Humain said Wednesday it had invested $3 billion in US billionaire Elon Musk's xAI.

The investment made Humain a "significant minority shareholder,” the company said in a statement.

It added that its xAI holdings would be "converted into SpaceX shares" after the rocket company announced it was taking over the AI start-up earlier this month as Musk pushes to unify his many business interests.

CEO Tareq Amin said the latest investment “reflects Humain’s conviction in transformational AI and our ability to deploy meaningful capital behind exceptional opportunities where long-term vision, technical excellence, and execution converge, xAI’s trajectory, further strengthened by its acquisition by SpaceX, one of the largest technology mergers on record, represents the kind of high-impact platform we seek to support with significant capital.”

Musk's xAI had previously announced in November it was teaming up with Humain to build a 500-megawatt data center in Saudi Arabia.

The Saudi firm also inked a new deal with Nvidia.