Malian transitional president, Assimi Goita, has officially launched the construction of a state-owned gold refinery, in partnership with the Russian group Yadran. The infrastructure aims to strengthen local processing and reduce export losses in a gold sector crucial for the national economy.

With an annual capacity of 200 tonnes, it aims to boost local gold processing, of which only 5% is currently refined domestically, despite an annual production of 51 tonnes.

The project spans 5 hectares near Bamako airport and plans for a processing capacity of 200 tonnes of gold per year, approximately four times the country's current production (around 50 tonnes). It aligns with the provisions of Mali's new Mining Code, which mandates local processing of mining products.

The share capital is estimated at 600 million CFA francs, with 62% held by the Malian state and 38% by the Russian company Yadran. This strategic partnership marks a new stage in the Mali-Russia rapprochement, initiated in October 2024 with the announcement of projects also aiming at the construction of a cotton processing plant and the securing of petroleum product supplies.

Malian authorities believe that the refinery will not only generate significant added value but also create local jobs and facilitate access to the international market through certifications (notably LBMA) that were lacking in the two existing facilities.