Mali, one of Africa’s largest gold producers, is undergoing a radical transformation in its mining sector. The Malian government is intensifying its efforts to recover between 300 and 600 billion FCFA in unpaid taxes and dividends, particularly from foreign mining giants like Barrick Gold.

The recent arrest of Resolute Mining’s CEO, Terence Holohan, in November 2024 symbolizes this drive to reclaim control over the country’s natural resources. Increasing the state’s share in mining projects is part of this strategy, but it has sparked concerns among economists and industry professionals.

“The first obvious risk is a decrease in foreign investment. This could discourage investment if the state’s share increases too much,” warns Kouadio Justin Kouassi, an expert in extractive industries.

The Malian government, firmly committed to breaking away from past practices, is determined to reshape its relations with multinationals operating within its borders. With abundant natural resources and a strategic vision, it seeks to strengthen national control over key sectors like gold while attracting new investments in a more equitable and transparent framework.

With gold production supporting the national economy and promising reform projects, the country may very well pave the way for a more fair and sustainable mining model.