City in Mali, formerly a major trading centre (8)

I believe the answer is:

timbuktu

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'city' is the definition.
(Timbuktu is an example)

I don't understand the remainder of the clue.

(Other definitions for timbuktu that I've seen before include "Mali town (a remote place?)" , "'City in Mali, once famous for its gold trade (8)'" , "Mythical faraway place (in Africa?)" , "Town in nine ac fabled for its remoteness" , "Oh, go to - very remote town in Mali, Africa?" .)

I've seen this clue in The Times.

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