Mali and a Chinese company will establish a factory for the production of explosives.
The government of Mali and the Chinese company Beijing Auxin Chemical Technology Ltd. have signed an agreement to construct a factory for the production of explosives for civilian use. Bloomberg reports this, as conveyed by UNN.
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These plans are expected to enable Mali to better regulate the civilian use of devices primarily employed in quarries and mines in the third-largest gold-producing country in Africa.
The shareholders' agreement signed between the two companies grants Mali 51% of the factory's shares, with the remainder owned by the Chinese firm. In addition to providing funding, Beijing Auxin will offer the expertise required for the construction of the facility.
The factory's construction is scheduled to be completed within 12 months, during a period marked by an increase in attacks by militants associated with "Al-Qaeda" and "ISIS" in Mali.