Malis Gold and Natural Resource Wealth to be ThoroughlyMapped

Mali, a West African nation, boasts significant gold reserves, with an estimated 800 tonnes of proven reserves, ranking third in Africa after South Africa and Ghana. The country’s vast lithium and uranium deposits also hold potential for future exploration. Mali has experienced a succession of coups, political instability, and security crises since at least 2012.

On April 25, an al-Qaeda-linked armed group joined forces with Tuareg separatists to launch simultaneous attacks across the country, resulting in the death of Defence Minister Sadio Camara. The capital city, Bamako, was placed under siege by armed groups following the attack. The situation has created a struggle for security and control.

Mali’s 24 million people rely on the mining sector for income, with most gold mines concentrated in southern regions and western areas along the Birimian volcanic belt. According to World Gold Council estimates, Mali produced approximately 100 tonnes of gold in 2024, making it Africa’s second-largest producer after Ghana.

Gold is Mali’s largest export, accounting for nearly 80 percent of total exports, generating around $4.3 billion in revenue in 2024. The country’s mining sector has historically been dominated by foreign companies, particularly Canadian and Australian firms, with Chinese involvement on the rise. In 2023, Mali introduced a new mining code allowing the state to take up to a 35 percent stake in mining operations.

Mali also possesses significant deposits of lithium, uranium, phosphates, iron ore, manganese, and diamonds. The Goulamina project is Mali’s largest lithium deposit, majority-owned by China’s Ganfeng Lithium and Australia’s Leo Lithium. Other notable mines include Fekola, Syama, and Sadiola Hill.

The country’s mineral wealth remains largely underexplored, particularly in the north due to instability. According to the National Directorate for Geology and Mines, Mali’s estimated reserves include gold, lithium, uranium, phosphates, iron ore, manganese, and diamonds.

Source: Al Jazeera