The authorities in Mali have approved the creation of a new state-owned enterprise tasked with overseeing the country’s equity stakes in mining ventures. According to a cabinet statement, the company will be wholly owned by the government and responsible for acquiring, holding, and administering national interests in extractive projects.
This step aligns Mali with neighboring countries such as Niger and Guinea, which have also established public entities to supervise their participation in mineral industries.
Strengthening Sovereign Control
As one of Africa’s leading gold producers, Mali relies heavily on mining revenues to support its economy. In recent years, the ruling military authorities have introduced regulatory changes aimed at increasing the state’s share of profits generated by foreign operators. Officials have framed these reforms as measures to reinforce economic sovereignty and ensure greater domestic benefit from natural resources.
A revised mining code expanded government participation in projects and adjusted fiscal terms related to royalties and dividends. The tighter framework contributed to tensions with international mining companies operating in the country.
Dispute With Barrick and Sector Reforms
The establishment of the new entity follows the resolution of a prolonged disagreement between Bamako and Barrick Gold. The government accused the company of failing to meet tax and royalty obligations under updated regulations. During the dispute, authorities took control of certain gold stocks and temporarily shut down the Loulo-Gounkoto complex, one of the country’s most significant mining sites.
After months of negotiations, both sides announced that the conflict had been settled late last year. The creation of the national mining company now signals a broader institutional shift, consolidating state oversight and formalizing Mali’s strategy to play a more direct role in managing its mineral wealth.
Through this restructuring, the government aims to secure stronger revenue flows and greater influence over a sector that remains central to the country’s economic future.
