Mali has concluded negotiations and renegotiations of mining agreements, securing an exceptional revenue of 761 billion CFA francs from companies in the sector, nearly double the initial target of 400 billion CFA francs. This announcement, presented on December 1, 2025, to Transitional President Assimi Goïta at Koulouba, marks the end of three years of work conducted by a dedicated commission. Gold, which represents more than 80% of Malian exports, thus benefits from a better redistribution of wealth.

Context of the Mining Negotiations

The commission, headed by Mamou Touré, audited mining companies to bring them into compliance with the 2023 Mining Code, generating 585.7 billion CFA francs in additional annual public revenue. The mission’s expenses were limited to 2.87 billion CFA francs over three years, demonstrating efficient management. This initiative responds to a recommendation from the National Assembly for a comprehensive audit of the gold sector.

Record Financial Results

The recovery of 761 billion CFA francs exceeds expectations and provides a much-needed boost to Malian public finances. Outstanding payments have been identified, disputes resolved, strengthening fiscal and environmental control mechanisms. The citizens of Bamako welcome this victory for the people, while calling for the funds to be used wisely for education, health, and infrastructure.

The Emblematic Case of Barrick Gold

Tensions with Barrick Gold over the Loulo-Gounkoto site, one of Mali’s largest gold mines, culminated in an agreement in principle at the end of November 2025. The company paid 244 billion CFA francs, released its employees, and resumed operations after renegotiating its mining permit. Barrick has already contributed USD 829 million between 2017 and 2023, including USD 206 million in 2023.

Impacts on the Malian economy

Industrial gold production fell from 66.5-67.7 tonnes in 2023 to 51 tonnes in 2024 due to these tensions, but reserves remain substantial at 731 tonnes. Strict enforcement of the Mining Code consolidates revenues and affirms economic sovereignty during the military transition. These advances could diversify the economy, create jobs, and reduce dependence on imports.