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Russia Expands Footprint in Africa With Giant Gold Refinery Project in Mali
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![Photo of Vlad Litnarovych]( "Photo of Vlad Litnarovych")
Mali has begun construction of a large gold refinery near its capital with Russian support, in what the country’s military-led government describes as a step toward reclaiming national control over its vast mineral wealth, Reuters reported on June 17.
The new facility—located in Senu, near Bamako—is being developed in partnership with Russian firm Yadran Group and a Swiss investment company.
Once completed, the refinery will be capable of processing up to 200 metric tons of gold per year, a figure that nearly quadruples Mali’s current annual gold output.
The Malian state will hold a majority stake in the project.
Speaking at the groundbreaking ceremony, interim president Colonel Assimi Goïta said the plant would allow Mali to “reclaim control over its natural resources”, ending decades of dependence on foreign refineries.
“Since 1980, all gold mined in Mali has been sent abroad for processing—to the UAE, South Africa, Switzerland. This deprives our country of considerable revenues that could be used to develop our economy,” Goïta stated.
According to Yadran CEO Irek Salikhov, the plant in Senu is designed not only for Mali’s domestic output but also to serve as a regional hub for refining gold from neighboring countries, including Burkina Faso.
The project reflects a growing trend among resource-rich African nations to process minerals locally in order to boost state revenues and curb illicit trade.
In 2024, Goïta introduced changes to Mali’s mining code that require all mining companies to refine gold within the country. Similar reforms have been implemented in Guinea, Niger, and Burkina Faso, as governments across the Sahel reassess extractive policies under increasing economic and political pressure.
Though no timeline for completion has been released, officials say the refinery will ultimately be able to process the entirety of Mali’s gold production, converting raw ore into standard Dore bars for export.
The facility is also intended to address one of the region’s most costly issues: smuggling. Mali loses billions of dollars annually to illegal gold exports due to a lack of certified processing facilities and monitoring infrastructure.
“This refinery will not only reduce budget losses from unprocessed exports but also improve oversight over gold mining and trade,” said Goïta.
Despite being one of the world’s top gold-producing regions, West Africa has never hosted an internationally certified gold refinery. Previous efforts, such as those in Ghana, have struggled to gain recognition or scale.
Goïta seized power in a 2021 military coup and has since relied on Russian support to consolidate rule. That same year, Wagner Group paramilitaries were deployed to Mali under the guise of providing security assistance to the junta. Human rights groups have repeatedly accused Wagner fighters of committing atrocities against civilians, including torture, abductions, and killings.
Earlier, reports emerged that since 2021, Russian Wagner Group mercenaries have been implicated in the detention, torture, and forced disappearance of hundreds of civilians in Mali.
