At a Glance
- Mali signs seven new mining deals under revised code.
- Gold and lithium projects expand investment, boost state revenue.
- Reforms increase royalties, raise state ownership in mining ventures.
Mali has sealed seven new mining agreements as part of its sweeping push to reshape one of Africa’s largest gold industries and attract fresh investment into critical minerals.
The contracts, signed under the country’s revised mining code, are expected to boost state revenue while tightening government control over foreign and local operators.
The Council of Ministers approved the deals on Friday, covering both exploration and exploitation rights.
Under the new framework, Mali will hold a guaranteed stake in projects and priority access to dividends, according to an official statement.
Gold and Lithium projects drive growth
The latest agreements expand on preliminary accords reached with mining companies between September and November 2024.
They involve some of Mali’s biggest mineral assets, including Allied Gold’s Sadiola mine, B2Gold’s flagship Fekola mine, Resolute Mining’s Syama site, and the Bougouni lithium project operated by China’s Ganfeng Lithium.
By broadening its reach across both gold and lithium, Mali is strengthening its position as Africa’s third-largest gold producer while tapping into the global shift toward clean energy minerals
Reforms aim to capture more value
The new deals are rooted in reforms introduced in 2023, when Mali increased mining royalties to 10% from 6.5% and raised the minimum state and community ownership in mining projects to 35% from 20%.
Those changes place Mali among African nations seeking greater returns from natural resources amid rising demand for gold and battery minerals.
Endeavour Mining and other major producers have already adapted to the updated code, signaling that the framework is now central to investment decisions in Mali’s mining sector.
Balancing investment and stability
For investors, the higher costs come with the benefit of greater regulatory clarity in a market that remains both resource-rich and politically fragile.
With gold prices near historic highs and lithium demand accelerating, Mali’s efforts to rewrite the rules of engagement could determine how much of the mining boom stays within its borders.
