Mali’s Gold Production Sees 23% Decline Amid Industry Turmoil

Mali’s gold production fell 23% in 2024 due to conflicts between the government and mining companies, most notably Barrick Gold. The sector’s crisis stems from a new mining code raising taxes and threatening investments. Total production, including artisanal mines, is expected to reach approximately 58.7 tons this year.

Mali’s industrial gold production experienced a significant decline of 23% in 2024, dropping to 51 metric tons from 66.5 tons in 2023, according to the country’s mines ministry. As a leading gold producer in Africa, Mali hosts operations by well-known international mining companies such as Barrick Gold, B2Gold Corp, Resolute Mining, and Hummingbird Resources.

The decline in Mali’s gold production underscores the challenges faced by the mining sector, largely attributed to conflicts with government regulations and tax issues. The government’s push for compliance with a new mining code, combined with Barrick Gold’s operational disputes, has fostered a climate of uncertainty. Moving forward, stability in the mining industry is crucial for restoring production levels.

Original Source: www.marketscreener.com