Gold price retreats as traders await more US data
Bullion has surged by more than 20% so far this year, boosted by rate cut expectations and robust purchasing by central banks.
Senegal has suspended all mining activity for nearly three years on its side of the southeastern Faleme river in a decree aimed at protecting the environment and supporting local communities threatened by an artisanal gold mining boom.
Mining-related dredging and chemical discharges have helped pollute the Faleme, which flows from the uplands in Guinea, down a large section of Senegal’s border with Mali, and into the Senegal river.
Mining will be suspended on all Senegalese territory up to 500 metres (546.81 yards) from the river’s left bank and remain in place until June 30, 2027, according to the decree published on Tuesday.
A survey found the number of illegal mining sites along the Senegalese and Malian sides of the Faleme has risen to over 800 from 600 in 2021, the Senegalese Press Agency said on Monday.
The Faleme, which was once home to a wide range of fish and mammals including hippos and served a vital role for local agriculture, is in urgent need of restoration, according to a 2024 paper published in the Journal of Water Resource and Protection.
(By Diadie Ba and Alessandra Prentice; Editing by Barbara Lewis)
Comments