Mali has unveiled plans to construct an industrial-scale gold refinery in Bamako, a major step toward asserting greater national control over its most valuable natural resource.
The initiative, announced following the Council of Ministers’ meeting on May 28, 2025, reflects a broader strategy to add local value to gold production, regulate artisanal mining, and reduce reliance on raw exports.
The new refinery will be developed in partnership with Russian firm Yadran, with the Malian state holding a controlling 62% stake in the Société de Raffinerie d’Or du Mali. This majority share ensures domestic leadership in a sector historically dominated by foreign interests.
The facility is expected to refine up to 200 tonnes of gold annually, significantly boosting Mali’s capacity to process its own resources rather than exporting unrefined metal.
This development comes amid a 23% decline in Mali’s industrial gold output, which fell from 66.5 tonnes in 2023 to 51 tonnes in 2024
Additionally, the new refinery is intended to improve oversight of artisanal mining, which contributed around 7.7 tonnes to Mali’s gold production in 2024.
