Mali: Altus Strategies Announces Increase In Resources For The Diba Gold Project

Gold resources from the Diba project in Mali have increased, now totaling more than 400,000 ounces in the indicated and inferred categories. This is what Altus Strategies, the asset holder, said on Monday, adding that these figures will soon be improved thanks to new drilling.

In Mali, the mining company Altus Strategies released a new resource estimate for the Diba gold project on Monday. Made by the engineering company Mining Plus as part of the prefeasibility study for the project, this update indicates a 637% increase in resources classified as "inferred".

The latter went from 32,500 ounces of gold to 5.4 million tonnes of resources grading 1.06 g / t of gold, or 187,000 ounces. At the same time, resources classified in the "indicated" category are now 4.8 million tonnes grading 1.39 g / t gold, or 217,000 ounces.

"There is significant exploration potential for new discoveries at Diba, with seven priority prospects still to be systematically tested by drilli…

OPEC, Russia and their allies agree to cut production by 20 million barrels per day

20 million barrels a day. This is the level of reduction in oil supply that will now be applied by OPEC member countries and their allies led by Russia. The decision has just been made and is reported by the Reuters news agency. It exceeds market expectations which anticipated a reduction of between 10 and 15 million barrels per day.
OPEC, Russia and their allies agree to cut production by 20 million barrels per day

The reduction methods and quotas linked to each producer are not yet known.

Following the announcement, US West Texas Intermediate (WTI) jumped 12% to $ 28.36 a barrel, while Brent gained 8.5% to $ 35.79 a barrel. What give a slight breath of fresh air to all industry stakeholders.

Despite Russian demands, the United States will not participate in this reduction. The US Department of Energy has said that production in the country is already declining. A posture which should in principle involve more responsibility on the part of shale oil producers known for their frantic production. In the event of a new shale boom, instability will continue.

The coming days will give us a better idea of ​​the real impact of this decision on crude oil prices. In any case, at less than 50 dollars per barrel, oil is still not very profitable for certain actors in the chain and the shortfall for certain countries in particular those of Africa strongly dependent on the oil windfall, remains substantial .

Russia has already said it will make do with a 42-dollar barrel, about 10 to 15 dollars more than current levels.

The United States currently produces about 15 million bpd, followed by Saudi Arabia with 12 million bpd and Russia with 10 million bpd.