What's Happening?
Mali's industrial gold output experienced a significant decline of 22.9% in 2025, primarily due to the suspension of operations by Barrick Mining. This halt was a result of a dispute over stricter mining
regulations introduced in 2023. The new mining code aimed to increase the value captured from the sector, leading to a standoff with Barrick, one of the largest gold producers in Mali. The Loulo-Gounkoto complex, a major contributor to Mali's gold production, was placed under provisional administration, affecting its output. Despite the reopening of the complex in July, logistical challenges limited its production. B2Gold emerged as Mali's largest gold producer in 2025, surpassing Barrick. The overall national gold production fell short of the government's forecast, highlighting the impact of regulatory changes on the mining sector.
Why It's Important?
The decline in Mali's gold output underscores the challenges faced by the mining industry in adapting to new regulations. The standoff with Barrick reflects the tension between government efforts to reform the sector and the operational realities faced by mining companies. This situation has implications for Mali's economy, as gold is a major export commodity. The regulatory changes could deter investment in the sector, affecting future production and economic growth. The shift in production leadership to B2Gold indicates a potential realignment in the industry, with new players gaining prominence.
What's Next?
The resolution of the dispute with Barrick and the reopening of the Loulo-Gounkoto complex may stabilize production in the short term. However, the long-term impact of the new mining code will depend on how effectively it is implemented and whether it can attract investment while ensuring fair value for Mali. The government may need to engage with mining companies to address concerns and ensure the sustainability of the sector. The outcome of these efforts will be crucial for Mali's economic prospects and its position as a leading gold producer in Africa.
