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Mali completes takeover of gold mines abandoned by foreign companies
By Maxwell Akalaare Adombila
Reuters
Monday, June 30, 2025
BAMAKO, Mali -- Mali has completed its takeover of the Yatela and Morila gold mines abandoned by their previous owners, the government announced at the weekend, but questions remain over how any untapped value can be released.
The takeovers and failure to disclose how the operations will be funded highlight the complex challenges facing Mali as it seeks to regain control of its natural resources and leverage high commodity prices to boost the economy, mirroring moves by other West African states including Burkina Faso and Niger.
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Company Announcement
Thursday, June 26, 2025
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... For the remainder of the announcement:
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The Yatela mine, in Mali's western Kayes region, was abandoned in 2016 after Sadiola Exploration Co., a joint venture of South Africa's AngloGold Ashanti and Canada's IAMGOLD, determined that low prices made operations uneconomical despite unexploited reserves.
The Morila mine in the southern Sikaso region was similarly abandoned in 2022 by Australia's Firefinch, which had acquired stakes from mining giants Barrick Mining and AngloGold Ashanti, leaving what the government's weekend statement described as "significant environmental and financial liabilities."
The mines will be revived by the newly established Society for Research and Exploitation of Mineral Resources of Mali, the government's statement said without specifying how they would be run and financed. ...
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