MALI’S industrial gold production will remain under 60 tons a year through 2029, according to a mines ministry plan reviewed by Reuters, prolonging a downturn linked to a reworked mining code and friction between authorities and mining firms.
Mali, among Africa’s leading gold producers, has tightened state control over the sector since introducing the 2023 code designed to increase government revenue. Officials said in December that a state audit had uncovered 761 billion CFA francs ($1.2bn) in unpaid dues owed by mining companies.
The ministry’s 2026-2029 outlook puts industrial output at 43.2 tons this year, climbing to 51.2 tons in 2027 and reaching 57 tons in 2028, then dipping to 50 tons in 2029. No explanation was given for the projected trajectory, said Reuters.
Most of the output is expected to come from B2Gold’s Fekola mine, Barrick’s Loulo-Gounkoto complex, Resolute’s Syama mine and Allied’s Sadiola mine. Small-scale and artisanal mining is expected to remain unchanged at six tons a year.
The 2023 reforms triggered a lengthy standoff with Barrick, including a period of state administration at Loulo-Gounkoto before a settlement last year. Output subsequently dropped to 42.2 tons in 2025, down from 54.8 tons in 2024 and far below 2023’s record 66.5 tons.
Reserves are also forecast to shrink, from 906.8 tons in 2026 to 748.6 tons by 2029, said Reuters.
