Mali: Refining gold, the country joins the regional dynamic of mining sovereignty
Mali has reached a decisive milestone in asserting control over its mining value chain with the launch of construction for the SOROMA-SA gold refinery on June 16, 2025, in Bamako. Presided over by Head of State General Assimi Goïta, the ceremony marked the realization of a key partnership with the Russian group Yadran, already active in several strategic sectors in Mali.
Located on a 5-hectare site near Bamako International Airport, the upcoming refinery will have an annual refining capacity of 200 tons of gold—four times Mali’s current national production. This project fully aligns with Mali’s new Mining Code, which now mandates the local processing of mineral resources to maximize added value.
With a share capital of 600 million CFA francs, ownership of SOROMA-SA is split between the Malian state (62%) and Yadran (38%). This majority public structure reflects Mali’s ambition to assert economic sovereignty and retain greater control over mining revenues.
Beyond creating jobs and stimulating the local industrial sector, the primary objective is to meet international standards, particularly by securing LBMA (London Bullion Market Association) certification. This certification is essential for exporting refined gold to major global markets. Currently, the two existing refineries in Mali lack this accreditation, significantly limiting their reach. Delivery of the new facility is scheduled for December 2026, under the close supervision of the Ministry of Economy and Mines, which has called for strict discipline and rapid execution.
This initiative is part of a broader regional trend: Burkina Faso, Niger, and Guinea have also embarked on similar reforms to internalize more value from their mineral wealth. For Mali, it complements recent investments in the Goulamina lithium mine, as well as textile and oil projects also managed by Yadran.
On the international stage, the Russian group is expanding its portfolio from energy to fintech, real estate, and blockchain. In Mali, this deepening partnership signals a long-term strategic alliance, first formalized in October 2024 during a meeting in Bamako between Yadran’s president, Irek Salikhov, and General Goïta. However, the success of SOROMA-SA will depend on two key factors: achieving international certification and maintaining political and security stability—two major challenges in a Sahel region that remains under significant strain.
