Mali has launched construction on a Russia-backed gold refinery near Bamako, aiming to process 200 tonnes annually—nearly four times its current output. Under a revised mining code, all gold must now be refined domestically, reflecting a regional effort in the Sahel to boost value capture. The facility, backed by Russia's Yadran Group and a Swiss firm, is intended to curb smuggling and improve traceability. It also positions Mali as a potential processing center for neighboring producers like Burkina Faso. However, investor concerns linger due to recent nationalisations, including the temporary state control of Barrick’s Loulo-Gounkoto mine amid tax disputes.

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