Mali has detained five managers from the local company operating the Yanfolila gold mine over alleged breaches of the country’s mining code, two sources told Reuters.
The employees, who work for Société des Mines de Komana (SMK), were detained on Friday for allegedly failing to repatriate foreign currency earned from export revenues, a requirement under Mali’s mining code, according to the sources. SMK could not be reached for comment by phone or email.
The revised mining code, introduced in 2023, increases taxes and aims to grant the state larger stakes in mining assets.
Its implementation has led to disputes with mining operators, including a two-year standoff with Barrick Mining before an agreement was reached in November.
In December, the government said it had recovered 761 billion CFA francs, or about $1.2 billion, in revenue shortfalls from mining companies following stricter enforcement of the code.
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According to Reuters, all five detained managers are Malian nationals, the sources said. One source is close to the company, while the other is familiar with the matter.
Both asked not to be named because they were not authorised to speak to the media. A spokesperson for Mali’s justice ministry did not immediately respond to a request for comment, while a spokesperson for the mines ministry said the ministry did not have information on the issue.
West Africa-focused lender Coris Bank International, through its subsidiary Nioko Resources, acquired the Yanfolila mine from UK-based Hummingbird Resources in 2025.
According to the mine’s profile, Yanfolila produced 83,965 ounces of gold in 2023 and holds reserves of 493,000 ounces.
In line with the revised mining code, Mali increased its stake in SMK to 20% in 2025.
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