MALI has established a fully state-owned entity to consolidate and administer the government’s shareholdings across the mining sector, following similar moves by neighbouring West African nations, said Reuters.
The new company, Sopamim, will acquire and manage Mali’s interests in operating mines, said the newswire citing a council of ministers statement issued on Friday. Niger and Guinea have deployed comparable state mechanisms to control their resource assets.
The initiative adds to Mali’s 2022 creation of Sorem, a separate state vehicle tasked with exploring and developing mineral deposits.
Mali ranks amongst Africa’s leading gold producers, hosting operations by Barrick Gold, B2GOLD, Resolute Mining, Endeavour Mining and Hummingbird Resources, concentrated in the country’s western and southern regions.
The military government introduced a revised mining code in 2023 that expanded mandatory state and local ownership from 20% to a minimum 35%. The legislation also strengthened tax collection frameworks, contributing to a 52.5% increase in state revenues from gold mining companies during 2024.
Last month, authorities appointed a former Barrick executive as special presidential adviser responsible for mining sector oversight, signalling continued centralisation of resource governance.
The succession of regulatory changes reflects Mali’s determination to capture greater economic value from its mineral wealth whilst asserting direct control over strategic assets through state-backed corporate structures.
