Reports indicate that this project is a key part of Mali's broader mining reforms, led by President Assimi Goïta's government, which aim to retain more value-added processing within the country.
By keeping more gold processing local, Mali hopes to develop its workforce and retain more economic benefits from its gold industry.
The state will hold a 62% stake in the refinery, while Yadran Group will own 38%. The refinery is set to become a regional hub, processing gold not only for Mali but eventually for neighboring countries like Burkina Faso as well.
This project aligns with a growing trend across the Sahel region, where countries are revising mining laws to ensure that more value-added processing takes place domestically.
Mali's move reflects the urgent need for African countries to process their raw materials locally, rather than exporting them for others to reap the profits.
IGIHE
