Black Agenda Report
Black Agenda Report
News, commentary and analysis from the black left.

  • Home
  • Africa
  • African America
  • Education
  • Environment
  • International
  • Media and Culture
  • Political Economy
  • Radio
  • US Politics
  • War and Empire

Mali Takes Control of One of Africa’s Largest Gold Mines and Launches Its Own Refinery
Pedro Stropasolas
02 Jul 2025
🖨️ Print Article
Mali's new refinery
First brick of Mali's new refinery laid by President Goïta. Photo: Presidency of Mali

Mali’s mining code change in 2024 puts pressure on foreign companies in the country.

Originally published in People's Dispatch.

The Loulo-Gounkoto complex, one of the largest gold mines in the world currently owned by the Canadian company Barrick Mining, has been placed under the provisional administration of the State of Mali. The measure was formalized on Monday, June 16, by the Commercial Court of Bamako and takes place amid a dispute between the Malian government, led by Colonel Assimi Goïta, and the multi-national company.

Mali, Africa’s second-largest gold producer and the world’s fourth-largest, says Barrick owes taxes and operates under unfavorable contracts signed with previous governments. In response, the company said it would appeal the court ruling.

The court appointed former Malian Health Minister Zoumana Makadji as the mine’s interim administrator. Officials from Mali’s government, which reformed its mining code in 2023, said the decision “protects national economic interests” and prevents “a sudden closure of the mine in the absence of a revised agreement.” The mine accounts for about 14% of Barrick’s revenues, and Mali holds a 20% stake.

Back in May, the government had officially requested that the court change the management of the mine, citing an interest in reopening it at a time of historic highs in gold prices. The dispute with Barrick led to the closure of the company’s offices in Bamako, the capital of Mali. The government also issued an arrest warrant for the company’s CEO, Mark Bristow, in December 2024. The company has offered USD 370 million to the Malian state amid the dispute.

In a statement, Barrick said that “while its subsidiaries remain the legal owners of the mine, operational control has been transferred to an external administrator.”

The tension between Mali and Barrick is not an isolated case. As part of a new policy to strengthen the national economy, the Malian government – ​​a member of the Alliance of Sahel States (AES) alongside Burkina Faso and Niger – has been putting pressure on several foreign companies in the mining sector.

West Africa’s first state-owned refinery

On the same day it took over management of the mine, the government began construction on West Africa’s first state-owned gold refinery, in partnership with the Russian conglomerate Yadran.

Located in Senou, 19 km from Bamako, the refinery will have the capacity to process up to 200 tons of gold per year. Mali will be a majority shareholder in the project, which aims to ensure that the nation can benefit directly from its mineral resources, without relying on foreign refineries.

“This is a long-awaited dream of the Malian people and today it has become a reality,” said President Assimi Goïta, laying the first brick at the groundbreaking ceremony.

Yadran Group Chairman Irek Salikhov welcomed the initiative and said the refinery is set to become a regional processing hub, also serving neighboring countries such as Burkina Faso. According to him, the goal is to enable Mali to “refine all the gold mined on its territory, putting an end to decades of exporting raw ore.”

There is still no official deadline for the completion of the refinery, which represents another step by the Malian government towards sovereign control over the gold production chain.

First published in Portuguese on Brasil de Fato.

Mali
African Economies
imperialism
Assimi Goïta
mining
gold

Do you need and appreciate Black Agenda Report articles? Please click on the DONATE icon, and help us out, if you can.


Related Stories

Margaret Kimberley, BAR Executive Editor and Senior Columnist
France Out of Africa! PASAI Shows the Way
13 May 2026
An international gathering of anti-imperialists in Nairobi, Kenya revealed the lies of “Africa Forward” as the presidents of France a
Reynoldson Mompoint
Outsourced: Chad as the armed wing of a low-visibility American strategy
13 May 2026
The Chadian troops arriving in Haiti are the visible arm of imperialist intervention in which the United States projects force without putting
Pavan Kulkarni
Thousands of Malians demonstrate in support of the government’s fight against terror groups
13 May 2026
Two weeks before, the armed forces had fought off the highly coordinated attacks on six cities by about 12,000 jihadist and separatist fighters
Kenyan government offers Red carpet for colonizers and a bloody nose for Anti-Imperialists
13 May 2026
The Ruto regime claims a Pan-African mandate when it sends police to Haiti, but it attacks and arrests Pan-African delegates when they gather i
Jeremy Miller
The Republic of Mali Still Stands: A Sahelian coup d'état that almost was
06 May 2026
The attack on Mali was a coordinated international destabilization campaign, but as is usually the case, any coverage from the Wester
Kribsoo Diallo , Essam Elkorghli
The Imperialist Attack on the Alliance of Sahel States 2.0
06 May 2026
From foreign-backed ambushes to French-orchestrated destabilization, this analysis exposes how imperialism weaponizes minority struggles to fra
Nicholas Mwangi
A continental call from Africa: standing with Cuba against imperialist aggression
08 April 2026
With the economic strangulation of Cuba by the United States, African progressive organizations and movements are calling for broader continent
Booker Omole
Statement on Zionist Plans to Create a Mini-State in Kenya and the Lessons from History
18 February 2026
In 1903, Britain offered Kenyan land to Zionist settlers. That scheme failed. Now, a new attempt is underway in Nakuru.
Essam Elkorghli
On the Assassination of Saif Al-Islam Qaddafi: Another Tale of Imperialist Treason
11 February 2026
The son of President Muammar Qaddaffi, Saif Qaddafi, has been assassinated by local forces, some of whom contributed to the destruction of a fl
Mafa Kwanisai Mafa
Trump, White Farmers and the War on Zimbabwe’s Sovereignty: Why Africans Must Reject this Neo-Colonial Push
04 February 2026
The push by white farmers to enlist Donald Trump in a compensation battle over Zimbabwean land is a brazen, neo-colonial plot to undo African l

More Stories


  • Butch Ware
    Margaret Kimberley, BAR Executive Editor and Senior Columnist , Butch Ware
    Dr. Butch Ware's Green Party Campaign in the California's Governor's Race
    01 May 2026
    Black Agenda Report Executive Editor Margaret Kimberley speaks with Dr. Butch Ware, the Green Party's nominee in the California governor's race. Dr. Ware discusses why the Democratic Party is…
  • Margaret Kimberley, BAR Executive Editor and Senior Columnist
    Truth, Lies and an Assassination Attempt
    29 Apr 2026
    The impetus to question official narratives is quite logical, given the U.S. history of promoting war propaganda and other lies.
  • Editors, The Black Agenda Review
    ESSAY: José Martí Today, Jesús Colón, 1961
    29 Apr 2026
    “Fidel Castro, the heir of José Martí is certainly throwing all colonial concepts and attitudes in history’s ash can.”
  • Ann Garrison, BAR Contributing Editor
    US Seeks to Turn Eritrea Into “a Bulwark Against Iranian Influence”
    29 Apr 2026
    As the militarization of the Red Sea escalates, the US tries to enlist Eritrea in exchange for sanctions relief.
  • Anthony Karefa Rogers-Wright
    Documents of Disaster and Conferences of Calamity: Rhetorical Questions, Questions of Rhetoric and the Transition  from Fossil Fuels
    29 Apr 2026
    The First Conference on Transitioning Away from Fossil Fuels produced a People's Declaration. There have been many such statements over the years, yet the climate crisis continues unabated.
  • Load More
Subscribe
connect with us
about us
contact us