The Malian government has approved legislation creating the Malian Mining Heritage Company, known as SOPAMIM SA, a state-owned public limited company tasked with managing government interests in mining operations across the country.
The decision was adopted during a weekend meeting of the Council of Ministers at the Koulouba Palace, following a proposal from the Minister of Economy and Finance.
SOPAMIM is fully owned by the Malian State and is being set up in line with the 2023 Mining Code, which provides for stronger state participation in the extractive sector and the creation of a centralized entity to oversee public mining assets.
Under its mandate, SOPAMIM will manage state shareholdings in existing mining companies, acquire strategic stakes in new projects, and represent national interests in the sector.
The reform aims to streamline oversight of mining revenues, improve transparency, and strengthen coordination among public institutions previously responsible for managing these assets.
Mining remains a cornerstone of Mali’s economy, accounting for the bulk of exports, a significant share of public revenue, and a notable portion of GDP, with gold production exceeding 70 tonnes annually.
Authorities say the new company will play a key role in safeguarding public finances and ensuring better governance of natural resources, with detailed operational and accountability frameworks to be defined through subsequent regulations.
