Mali signs agreement with Russia to build gold refinery.
Mali signs agreement with Russia to build gold refinery.
Mali’s military government has announced the signing of a non-binding memorandum of understanding with Russia to construct a gold refinery in Bamako, the capital city. This agreement is part of a series of collaborations between the two nations, reflecting Russia’s efforts to expand its influence in the region.
According to Minister Alousséni Sanou, the proposed refinery aims to have a capacity of 200 tonnes per year, potentially becoming Mali’s largest gold refinery if realized. The memorandum is valid for four years, and although a construction timeline was not provided, it signifies a significant step toward strengthening economic ties.
In an interview broadcast on state television, Sanou emphasized the strategic benefits of such a refinery. He stated, “This will allow us not only to control all gold production but also to be able to correctly apply all taxes and duties.”
This initiative underscores Russia’s growing engagement with Mali, a key gold-producing nation in Africa, particularly as Western influence in the region diminishes. In October, Russia’s state nuclear energy company, Rosatom, signed an agreement with Mali to explore minerals and develop nuclear energy—a move signaling Russia’s multifaceted interests in the country.
Further diversifying their collaboration, Sanou revealed another agreement with a Russian firm to construct a substantial solar power plant with a capacity ranging from 200 to 300 megawatts, set to be operational by mid-2025. These ventures mark Russia’s concerted efforts to deepen its involvement in Mali’s economic landscape and broaden its influence in the region.
Following the 2021 coup that brought Mali’s military to power, the government expelled French troops engaged in counterterrorism operations against Islamist militants. Instead, Mali forged a partnership with the Russian military contractor Wagner Group, known for its extensive operations in Africa, including involvement in lucrative mining ventures.
Wagner Group’s presence in Mali has been marred by allegations of human rights abuses during the country’s efforts to combat Islamist groups affiliated with al Qaeda and Islamic State.
In 2022, Mali’s industrial gold production reached a total of 66.2 tonnes, with major contributions from mines owned by prominent companies such as Barrick Gold, B2Gold, Resolute Mining, Allied Gold, and Endeavour Mining. This shift in alliances and the collaboration with Wagner Group underscore Mali’s evolving geopolitical landscape, impacting both its security strategies and the lucrative mining sector.
