Mali’s industrial gold production declined by 22.9% in 2025, weighed down by a prolonged suspension of Barrick Mining’s operations following a dispute over stricter mining regulations, according to provisional figures from the country’s mines ministry, reported by Reuters.
The fall highlights the impact of regulatory changes on one of Africa’s largest gold-producing nations.
The Malian government has been pushing reforms aimed at capturing greater value from the mining sector, formalised under a new mining code introduced in 2023.
As part of this effort, a wide-ranging audit led to the recovery of 761 billion CFA francs ($1.2 billion) in arrears from mining companies, the government said in December.
However, the tougher rules unsettled some miners and triggered a two-year standoff with Barrick.
During the dispute, the Canadian company’s flagship Loulo-Gounkoto complex was placed under provisional administration before an agreement was reached late last year.
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According to data seen by Reuters late on Thursday, the prolonged standoff hurt overall sentiment in the sector and disrupted production across the industry, offsetting output gains from new entrants and the expansion of small-scale industrial mines.
Industrial gold output fell to 42.2 metric tons in 2025 from a revised 54.8 tons in 2024. This marked a sharp drop from the country’s production peak of 66.48 tons in 2023.
Although the Loulo-Gounkoto complex, Mali’s largest gold mine, reopened in July under a state-appointed administrator, ongoing logistical challenges limited its output to just 5.5 tons in 2025, down from 22.5 tons the previous year.
The data also showed that B2Gold overtook Barrick to become Mali’s largest gold producer in 2025, delivering 17.5 tons.
Allied Gold ranked second with 9.58 tons, supported by production from its new Korali-Sud mine alongside the Sadiola operation, while Barrick placed third with 5.5 tons.
Artisanal gold production remained unchanged at six tons in 2025. When combined with industrial output, Mali’s total gold production stood at 48.2 tons for the year, representing a 22.7% shortfall from the government’s original forecast of 54 tons.
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Image Credit: Africa Briefing
