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With new refinery, Mali aims to process all locally mined gold domestically
Mali Starts Construction of Russia-Backed Gold Refinery
By Tiemoko Diallo and Idrissa Sangare
Reuters
Tuesday, June 17, 2025
BAMAKO, Mali -- Mali began on Monday construction of a new Russia-backed gold refinery, which the West African country's military leader said would take it closer to asserting control over its natural resources.
The 200-ton capacity facility, in which Mali has a controlling stake, will be built in partnership with Russia's Yadran Group and a Swiss investment company.
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Mali's interim president, Col. Assimi Goita, said last year that all mining companies will be required to process their gold domestically under a revised mining code, without providing a deadline.
That reflects a broader regional shift extending across the Sahel, where Guinea, Niger, and Burkina Faso have also revised mining codes to mandate local processing, adding value to their exports and boosting the economic benefits of their resources.
"Since 1980, Mali's gold has been exported for refining and sale to countries such as the United Arab Emirates, South Africa, and Switzerland," Goita said at the groundbreaking ceremony for the new plant in Senou, outside the capital, Bamako.
"This deprives our country of substantial revenues that could be used for the development of its economy." ...
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