By John Ikani
Mali’s military administration has announced the formalization of an agreement with Russia for the construction of a gold refinery in the capital, Bamako.
The accord, outlined in a non-binding memorandum of understanding, focuses on establishing a substantial 200-tonnes-per-year refinery, as revealed by Minister Alousséni Sanou during a recent state television interview.
The four-year validity of the memorandum was emphasized, though specific details on the construction timeline were not provided.
If realized, the refinery would stand as the largest in the West African nation.
“This will allow us not only to oversee all gold production but also to accurately implement all taxes and duties,” stated Minister Sanou, underlining the economic implications of the collaboration.
The agreement represents another facet of Russia’s growing involvement in Mali, a key gold-producing nation in Africa, especially as traditional Western influence diminishes.
Russia’s state nuclear energy entity, Rosatom, previously inked a deal with Mali in October, focusing on mineral exploration and nuclear energy production.
Minister Sanou disclosed another agreement with a Russian company for the establishment of a 200- to 300-megawatt solar power plant by mid-2025.
Following the military coup in 2021, Mali’s administration ousted French troops engaged in combating Islamist militants and aligned itself with the Russian military contractor Wagner Group.
Wagner Group, known for its diverse African operations, including lucrative mining contracts, has faced allegations of human rights violations in Mali’s anti-Islamist efforts.
Mali’s industrial gold production in 2022 reached 66.2 tonnes, predominantly sourced from mines operated by Barrick Gold, B2Gold, Resolute Mining, Allied Gold, and Endeavour Mining.
This collaborative venture with Russia is poised to reshape Mali’s gold sector, introducing new dynamics and alliances in the evolving geopolitical landscape.
