Mali’s gold output falls 23% as mining code reshapes sector

Provisional numbers from Mali’s mining ministry showed that Mali’s gold output had fallen 22.9%, following a dispute with Canadian mining company Barrick Mining and a long period of suspended activities, according to a Reuters report on January 16th.

Barrick’s Loulo-Gounkoto complex, saw an output of 5.5 tons, which is 22.5 tons lower than a year earlier, according to the data. 

The massive Loulo-Gounkoto complex was under temporary state administration after Barrick had a two-year dispute with the Malian government over the 2023 mining code. The mining code introduced by the government gives them a larger share in the mining industry and removes tax exemptions from mining firms.

According to data seen by Reuters, the long dispute had affected confidence in the mining sector and disrupted production across the industry.

Barrick came to an agreement with the Malian government with the company agreeing to pay the government around $430 million and dropping its case against Mali at the World Bank in exchange for the release of its detained employees in Mali.

As the Malian government attempts to reform the sector through the 2023 mining code, a recent audit helped in recovering 761 billion CFA francs ($1.2 billion) from mining firms.

Companies like B2Gold and Kodal Minerals, which had agreed to the mining code earlier, have continued their operations without disruptions. 

While national production in 2025 amounted to 48.2 tons, it was still below the government’s 2025 forecast of 54 tons by 22.7%. As Mali is one of Africa’s leading gold producers, it relies heavily on mining for its public revenue. 

However, the sector has also faced pressure from political instability and regulatory uncertainty, with groups like the Al-Qaeda affiliated JNIM waging a prolonged insurgency. The government has sought to deal with these challenges by aligning with Moscow.

Reuters, Maghrebi.org