1/7/2025–|Last update: 17:47 (Mecca time)
The financial government has regained control of the “Yatila” and “Morella” gold mines, after years of abandoning them by foreign companies, which reflects an upward trend in West Africa towards a retrieval Natural resources Strategy.
This step comes in light of the rise Gold prices Globally, the authorities in Mali seek to reduce dependence on foreign companies and enhance national revenues.
Mali is the second largest gold producer in Africa With an annual production estimated at 65 tons, despite its lack of internationally accredited local refinery, which leads it to export the raw metal without added value.
The Yatila mine is located in the west of the country, and was closed in 2016 by Sadiola Exploren, which is jointly between the South African Anglo -Cantheette and the Canadian IA Gold, due to the low prices at the time, despite the presence of unexploited reserves.
As for the “Morella” mine in the Sikasu area in the south, the Australian company “Ferfinch” abandoned it in 2022, after it acquired stakes from the companies “Barik Gold” and “Anglo -Gold”.
Sovereignty on wealth
This move comes as part of a series of measures taken by the military government since it took power in 2020, to restructure the mining sector and enhance the state’s share of gold revenues.
This recently included the imposition of the state administration on the “Lulu-Gonkoto” complex of the Canadian company “Barrick”, in a move that sparked controversy over taxes and property rights.
Mali also started the construction of a new gold refinery with Russian support, with a treatment capacity of up to 200 tons annually, in an effort to enhance local benefit from one of the most important natural resources of the country.