Mali has started building its first gold refinery, teaming up with Russian firm Yadran Group.
Mali’s ruling military government has launched the construction of the country’s first gold refinery, partnering with Russia’s Yadran Group to lead the project. The plant will be located in Senou, near the capital Bamako, and is expected to process up to 200 tonnes of gold annually.
Gen Assimi Goïta, Mali’s military leader, said the refinery represents a big step toward “economic freedom” and self-reliance in handling the country’s vast mineral resources.
Since taking power in 2021, Goïta has been strengthening Mali’s ties with Russia, cutting back on relations with France and other Western partners. His government’s shift mirrors moves in nearby Burkina Faso and Niger, where recent coups have also led to stronger Russian involvement.
One major sign of this change came when Mali put a large gold mine, operated by Canadian firm Barrick, under state management—effectively sidelining foreign control.
At the groundbreaking event, Yadran Group chief Irek Salikhov described the partnership as beneficial for both Mali and Russia. He said the plan is to turn the refinery into a central gold-processing hub for the region, including neighbouring nations like Burkina Faso.
Mali will have the larger ownership of the project, while Yadran will manage a minority stake.
Goïta emphasised that the refinery will bring an end to the decades-long practice of sending raw gold abroad for refining.
“We are now able to refine our own gold. This dream has lived in the hearts of Malians for years, and now it is coming to life,” he said.
The exact completion date hasn’t been revealed, but leaders believe this step will increase national revenue and offer better returns from Mali’s natural wealth.
Gold-Rich but Still Struggling
Although Mali is the second-largest gold producer in Africa, millions of citizens continue to live in poverty. The government hopes the refinery will help change that by keeping more of the gold value within the country.
For Goïta, this refinery is not just a business project—it is a symbol of breaking free from foreign dependency and building a future led by Malians.
