Mali has kicked off the construction of its first-ever gold refinery, a game-changing project that promises to reshape the country’s gold industry and boost its economy.
The refinery, designed to refine up to 200 tons of gold annually, is being built in partnership with Russian and Swiss firms. Under the arrangement, Mali will hold a 62% majority stake, a move aimed at ensuring that more profits stay within the country rather than flowing abroad.
Officials say the refinery is expected to be completed within 18 to 24 months, positioning Mali as a potential regional hub for gold refining in West Africa.
For decades, Mali—Africa’s third-largest gold producer—has exported raw gold abroad for refining, losing out on significant value addition. With this new facility, the government hopes to change that narrative by creating jobs, boosting revenues, and attracting more investors.
“This refinery marks the beginning of a new era. Mali will no longer just export its raw resources—we will refine, add value, and lead the gold industry in the region,” an official said during the groundbreaking ceremony.
If successful, the project could help Mali reduce its economic dependence on foreign refineries, strengthen its role in the global gold market, and keep billions in potential earnings at home.
Source:@AfricanHub_
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