Mali has signed seven new agreements with international and local mining companies, strengthening state participation and boosting revenues as the military-led government intensifies efforts to capture more income from the sector.
The Council of Ministers endorsed the exploitation and exploration deals at its Friday meeting, according to an official statement, granting the state a guaranteed, non-reducible stake in projects along with priority access to dividends.
The agreements apply to several major gold operations, including the Sadiola project operated by a subsidiary of Allied Gold, B2Gold’s Fekola mine, Resolute Mining’s Syama site, and Ganfeng Lithium’s Bougouni project, according to Reuters.
The accords follow preliminary agreements signed with the same companies between September and November 2024.
They also reflect the country’s revised mining code, introduced in 2023, which raised royalties from 6.5% to 10% and increased state and local ownership in mining ventures to at least 35%, up from 20%.
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While Endeavour Mining and other producers have already signed agreements in line with the new framework, Canadian company Barrick Mining remains locked in a dispute with Mali’s authorities.
Reuters reported earlier this month that a senior Barrick executive who previously represented the miner in negotiations with the government had crossed over to become an adviser to Mali’s president, further straining relations between the two sides.
Resolute Mining declined to comment, while Allied Gold, B2Gold, and Ganfeng did not immediately respond to requests.
Mali, one of Africa’s top gold producers, has seen investment and production pressured by regulatory uncertainty.
The government, emphasizing resource nationalism, has increasingly shifted away from Western investors while moving closer to Russian partners.
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Image Credit: Mining Weekly
