Mali Acquires a 62% Share in the Nation's First Gold Refinery, Collaborating with Yadran from Russia
### News Article: Mali's National Gold Refinery Partnership with Yadran Set to Boost Domestic Gold Processing
Mali, a West African nation renowned for its gold production, is set to take a significant step forward in its mining sector with the establishment of a national gold refinery. In partnership with Russian firm Yadran, the new refinery, known as SOROMA-SA, is expected to process 200 tons of gold annually, boosting the overall value contributed by the mining sector in Mali[1][2].
The Malian government signed an agreement in 2024 to establish the national gold refinery, marking a strategic effort to localize more of the gold value chain within the country[1][3]. The refinery will be jointly owned by the Malian state (62%) and Yadran (38%), with the Russian firm providing technical expertise, training support, and long-term maintenance for the industrial unit[2].
The exact investment figures and construction timeline have not been disclosed, but it is known that the refinery will be built on a five-hectare site near Bamako's airport, with recent reports suggesting it might be located in Senou, not far from Bamako[1][3]. Construction began in mid-June 2025, with the foundation stone laid by President Assimi Goïta[2][3].
The national gold refinery is expected to transform how Mali handles its gold production and refining processes, ending decades of crude gold exports[3][4]. This shift reflects a broader regional trend towards local resource processing, similar to policies in Burkina Faso, Niger, and Guinea[1][4].
Mali's gold, primarily produced by industrial mining operations, is currently exported abroad for refining, with Switzerland being the main destination[1]. The current refinery in Mali, operated by Marena Gold, focuses mainly on gold sourced from artisanal miners[1]. The national gold refinery is anticipated to increase Mali's gold processing capabilities significantly.
Industrial gold production in Mali was estimated at 51 tons in 2024, while artisanal gold production is estimated at around 6 tons per year, with other reports suggesting it could exceed 30 tons[1]. Gold remains Mali's top export and the main source of government revenue, accounting for approximately 10% of the country's GDP[1].
The Malian government aims to better integrate the mining sector into the national economy through the establishment of a national gold refinery[2]. This initiative is part of a broader government policy aimed at capturing more economic value from Mali's gold sector, contributing to the overall growth and development of the nation.
In addition to Yadran, a Swiss investment company is also involved in the project, though details about the Swiss company's specific role or investment are not yet clear[4]. The Malian government will own a 62% stake in the country's first national gold refinery, marking a significant step forward in the nation's gold processing capabilities and economic development.
The Malian government's partnership with Yadran in the establishment of SOROMA-SA, a national gold refinery, signifies a strategic move to localize more of the gold value chain within the country, shifting from crude gold exports to a more refined and processed form. This venture is expected to not only boost the overall domestic gold processing, but also contribute to the growth of the finance sector, as the increased gold processing capabilities will likely attract more investments. Furthermore, the energy sector may also benefit from this project, as the refinery will consume significant amounts of electricity for its operations.
