Russia to start geological search for lithium, oil, gas deposits in Mali in November
Date
10/3/2024 5:01:25 AM
(MENAFN) Russia is set to commence geological exploration for lithium, oil, and gas deposits in Mali next month, according to a senior official who spoke anonymously in Bamako on Wednesday. This announcement coincides with the visit of Mali's Economy and Finance Minister Alousseini Sanou and energy Minister Bintou Camara to Moscow, where they are discussing investment opportunities. The official indicated that the first group of Russian specialists will arrive next month to initiate exploration activities, and a timetable for subsequent stages of the project has already been established.
This collaboration with Russia is seen as a significant opportunity for Mali, as it aims to secure essential resources that could finance various sectors of its economy. The partnership is part of a broader strategy by the Malian government to enhance resource extraction capabilities and diversify its economic foundations. By tapping into Russia's expertise and technological capabilities, Mali hopes to bolster its resource management and leverage these assets for sustainable development.
Mali is not alone in this pursuit; it is part of a trio of nations—including Burkina Faso and Niger—that form the Alliance of Sahel States, established in September of last year. This alliance reflects a regional effort to address security challenges and enhance cooperation among the three countries. In a notable shift, these nations recently withdrew from the Economic Community of West African States (ECOWAS), which had threatened military intervention in Niger following a coup there last year.
The withdrawal from ECOWAS signifies a strategic pivot for Mali, Burkina Faso, and Niger as they focus on combating terrorism and fostering greater integration in various areas, such as a unified passport system, enhanced communications, and diplomatic collaboration. The engagement with Russia could further strengthen these ties and provide the necessary resources to address pressing economic challenges while promoting stability in the region.
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