(Bloomberg) — Mali’s President Assimi Goita opened up for dialog with the West African regional bloc after Mali shut its borders with member states in response to sanctions on the gold-producing country for refusing to hold elections next month.
While we regret the “illegal, illegitimate and inhumane nature of certain decisions, Mali remains open to talks with the Economic Community of West African States to try and reach a consensus,” Goita said in a statement on the state broadcaster Monday.
“We’re asking Ecowas to reconsider the situation our country finds itself in and what’s in the best interest of the Malian people.”
Ecowas, as the regional bloc is known, on Sunday froze Malian assets at the region’s central bank and commercial lenders in member states, suspended non-essential financial transactions and ordered land borders be closed. The announcement came a week after the military-dominated government proposed a five-year transition period, in defiance of international pressure to prepare a return to civilian rule next month.
“We’ve never failed to honor our promise to return Mali to a normal, peaceful and secure constitutional order,” Goita said.
Unacceptable Move
German Defense Minister Christine Lambrecht held talks with French counterpart Florence Parly, with both agreeing that postponing the planned February vote was unacceptable.
Mali is Africa’s third-biggest gold producer and companies including Toronto-based Barrick Gold Corp. and Vancouver’s B2Gold Corp. have operations in the country. Barrick said its mines have so far not been affected by the sanctions and it has sufficient stocks and stores to continue operating normally. Still, “the situation was very fluid” and the company is monitoring it closely, a Barrick spokesperson said via email.
B2Gold didn’t immediately respond to a request for comment on what impact the sanctions may have on their operations.
“Miners operating in Mali should prepare for significant disruptions to their export routes and logistical supply lines as long as Ecowas maintains its ban on trade and financial exchanges with the country,” Verisk-Maplecroft analyst Alexandre Raymakers said in a research note. “Considering the importance of the gold mining sector as a source of revenue for Bamako, we do not expect the bloc to provide any exemptions to miners.”
Guinea’s interim government on Monday said its land and air borders with Mali would remain open as Ecowas member states shut their borders with the land-locked country. Guinea, the world’s top bauxite-producer, was suspended from the regional bloc following a military coup last year.
Mali’s government called for rallies and mass prayers across the country on Jan. 14, according to a separate statement.
READ: West African Leaders to Cut Ties With Mali Over Elections Delay
(Updates with comment from Mali’s interim president in second paragraph, Guinea government reaction in final paragraph.)
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