Mali’s transitional government has announced plans to build a major gold refinery in its capital, Bamako, in partnership with Russia. The project, backed by a strategic agreement between the two countries, aims to refine Mali’s gold locally and end the country’s dependence on foreign processing facilities.
With an expected refining capacity of 200 tonnes per year, the refinery is set to significantly boost Mali’s ability to manage its most valuable natural resource: gold.
Mali is Africa’s third-largest gold producer, after Ghana and South Africa, yet historically, most of its gold has been exported in raw form for refining abroad, mainly in Switzerland and the United Arab Emirates.
The Malian government says this initiative is part of a broader strategy to assert control over 100% of its gold production, thereby increasing national revenue, improving transparency in the mining sector, and reducing the loss of value associated with unprocessed exports.
“We are taking back control of our resources,” said a Malian government spokesperson. “This refinery represents not only a leap forward in our industrial capacity but a critical step in our journey toward full economic sovereignty.”
The agreement with Russia comes amid a broader realignment in Mali’s foreign policy. Following years of strained relations with Western powers and the withdrawal of French and other European forces from the Sahel, Mali has deepened its economic and military ties with Russia. This includes cooperation in defense, agriculture, and now, mineral resource development.
Russian companies have already shown growing interest in Mali’s natural resource sectors, and the refinery deal strengthens Moscow’s foothold in West Africa while offering Bamako an alternative to traditional Western partnerships.
Critics have raised questions about the transparency of the deal and the long-term implications of growing Russian influence in Mali, but supporters argue that the country is finally prioritizing national interests over foreign dependency.
The refinery is expected to create local jobs, increase state revenues, and provide the technical capacity needed to refine gold domestically. Construction is reportedly set to begin soon, with completion targeted within the next couple of years.
As African nations seek to reclaim greater control over their natural wealth, Mali’s gold refinery project could serve as a model for others looking to break free from colonial-era economic structures and forge new paths toward self-reliance and industrial empowerment.
