Mali’s military government has finalized a deal with Russia to establish a gold refinery in Bamako, the nation’s capital. The planned refinery is expected to have a processing capacity of 200 tonnes of gold annually.
The agreement, spanning four years, lacks specific construction timelines. Mali’s mining ministry underscores gold as the country’s primary export, significantly contributing to its economic growth.
Finance Minister Alousséni Sanou asserts that the project will centralize gold production in Mali, ensuring proper tax and duty application.
Following the 2021 military coup and the subsequent withdrawal of French forces from Mali, the country has notably strengthened its relations with Russia.