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September 11, 2025Mali strikes gold refining deal with Russia to curb export losses
Mali’s government has announced plans to establish a state-controlled gold refinery in partnership with Russian firm Yadran.
- Mali is establishing a state-controlled gold refinery in partnership with Russian firm Yadran to maximize earnings from its gold sector.
- The refinery, named SOROMA-SA, will be majority-owned by Mali with a 62% stake, located near Bamako’s airport with a capacity of 200 metric tons annually.
- Mali seeks to locally refine gold to meet international standards of purity (99.5%) and reduce dependency on refining abroad.
Mali has broken ground on its first-ever gold refinery near Bamako. The facility, backed by Russia’s Yadran Group and a Swiss investment firm, will have the capacity to process 200 tonnes of gold annually, nearly four times the country’s current output. Under the joint venture SOROMA-SA, Mali will hold a majority 62 per cent stake, while Yadran holds the remaining 38 per cent.
