Africa-Press. The mining ministry’s plan indicates that Mali’s industrial gold production will remain below 60 metric tons annually until 2029, continuing the decline that followed the implementation of a revised mining law and disputes between the state and mining companies.
Mali, one of the largest gold-producing countries in Africa, has tightened its grip on the mining sector under a mining law enacted in 2023 aimed at boosting state revenues.
In December, officials reported that a government audit revealed alleged arrears of 761 billion West African francs (1.2 billion USD) owed by mining companies.
The mining ministry’s plan for the period 2026-2029 anticipates industrial gold production to reach 43.2 tons in 2026, rising to 51.2 tons in 2027, peaking at 57 tons in 2028, before declining to 50 tons in 2029.
Production is expected to be led by B2Gold’s newly opened Fekola mine, Barrick’s Loulo-Gounkoto complex, Resolute’s newly opened Syama mine, and Allied’s newly opened Sadiola mine, which together account for the majority of the expected production until 2029.
Artisanal and small-scale gold production in Mali is expected to remain steady at around six tons annually during this period.
Reforms in Mali’s mining sector have led to a prolonged dispute with Canadian mining company Barrick, culminating in the state’s temporary management of its Loulo-Gounkoto complex, before reaching a settlement last year.
The fallout from this dispute has negatively impacted production and investor sentiment, diminishing the gains made by new mines and small producers.
Industrial gold production fell to 42.2 tons in 2025, compared to 54.8 tons in 2024 (after adjustment), significantly lower than the record 66.5 tons produced in 2023.
The mining ministry’s plan for the period 2026-2029 also forecasts a decline in industrial gold reserves, expected to drop to 748.6 tons in 2029, down from 906.8 tons in 2026.
