Mali’s military junta, led by General Assimi Goïta, initiated the construction of a state-controlled gold refinery in Senou, near the capital Bamako, in collaboration with Russian conglomerate Yadran Group.
The refinery, operated by the newly formed SOROMA-SA, will have a processing capacity of 200 metric tons annually nearly four times Mali’s current gold output of approximately 50 tons.
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Mali will hold a 62% majority stake in the venture, with Yadran owning the remaining 38%. The facility aims to produce gold with 99.5% purity, meeting international certification standards, which Mali’s existing refineries lack.
This certification is expected to enable Mali to access global markets directly, reducing reliance on foreign refining.
General Goïta emphasized that the project embodies Mali’s push for “economic sovereignty,” ensuring the nation retains more revenue from its mineral wealth.
“This refinery will allow us to process our gold locally and maximize economic benefits for Malians,” Goïta stated.
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Yadran’s representative, Irek Salikhov added that the facility could serve as a regional hub, potentially processing gold from neighboring countries like Burkina Faso.
This move comes alongside Mali’s recent overhaul of its mining sector, including tightened regulations and a high-profile dispute with Canadian mining giant Barrick Gold over the Loulo-Gounkoto complex.
Since then, Mali has pushed for resource control as part of a broader agenda of economic self-reliance, though this has sparked tensions with foreign investors.
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