Mali and Chinese company to build explosives plant
Kyiv • UNN
Mali and China's Beijing Auxin Chemical Technology Ltd have signed an agreement to build an explosives plant. Mali will receive a 51% stake in the plant, which is expected to be built in 12 months.
The state of Mali and the Chinese company Beijing Auxin Chemical Technology Ltd. have signed an agreement to build a plant for the production of explosives for civilian use. This was reported by Bloomberg, according to UNN.
Details
These plans are expected to allow Mali to better control the civilian use of the devices, which are used mainly in the quarries and mines of Africa's third largest gold producer.
The shareholders' agreement signed between the two companies gives Mali 51% of the plant's shares, with the Chinese company holding the rest. In addition to providing financing, Beijing Auxin will provide the expertise needed to build the unit.
The plant is scheduled to be completed in 12 months at a time when Mali is experiencing an increase in attacks by militants affiliated with al-Qaeda and the Islamic State.
