Aug. 19 at 3:50 AM
$BTG $BTO.TSX 2/2
2. Less control over the process
Domestic refining could give the junta greater influence over assay, certification, processing schedules, and the timing of gold exports.
3. More government leverage
If the junta controls or heavily regulates refining, it potentially gains another point of control over miners through export permissions, taxation, and compliance requirements.
4. Security risk
A refinery would be a fixed, high-value asset. Given Mali’s junta-russia mercenaries environment, protecting such infrastructure could become another significant challenge.
5. Less flexibility in global sales
Domestic refining could mean more decisions are ultimately subject to Malian rules and timelines.= blackmails, strikes and mercenaries
Junta wants more of the gold value chain inside the country, it means higher costs, more regulation, and less flexibility for B2Gold.
The big question for investors: How much of the additional cost and political risk will ultimately fall on the miners?
