Mali's gold reserves and production will face the risk of decline

According to Reuters, quoted by Miningweekly, the Ministry of Mining of Mali predicts that the national gold output will still be less than 60 tons in 2029, continuing the downward trend after the revision of the mining law and the dispute between the state and mining enterprises.

Mali is one of the largest gold producers in Africa. In order to expand the national income, according to the Mining Law of 2023, the government tightened its control over the mining industry.

Last December, Malian officials said that the government had recovered 761 billion CFA francs ($1.2 billion) from mining companies.

The 2026-2029 plan of the Ministry of Mines of Mali predicts that the gold output will be 43.2 tons in 2026, rising to 51.2 tons in 2027, reaching the peak of 57 tons in 2028 and falling to 50 tons in 2029.

This data has no basis to explain the trend. The Ministry of Mines did not immediately respond to a request for comment.

Mali's gold production mainly comes from Fekola gold mine of B2Gold, Loulo-Gounkoto of barrick Company, Syama of Resolute Mining Company and Sadiola of Allied Gold Company. Before 2029, these mines.

In the same period, the production of artisanal and small-scale gold mines in Mali remained at about 6 tons per year.

Mali's mining reform triggered a long-standing dispute between the government and Canadian mining company barrick. Before reaching a settlement last year, the Mali government temporarily controlled its Lulu-Gongketuo mining area.

The incident affected Mali's gold production and investor sentiment, and reduced the income of new mines and small producers. In 2025, Mali's gold production dropped from 54.0 tons in 2024 to 42.2 tons, far below the record 66.5 tons in 2023.

The 2026-2029 plan of the Ministry of Mines also predicts that the country's gold reserves will drop from 906.8 tons in 2026 to 748.6 tons in 2029.

source:https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202607/t20260729_10282459.htm