Mali’s gold reserves declined by 17% between 2022 and 2024, now totaling 731 metric tons, according to the mines ministry. The West African nation, a leading gold producer, hosts mining giants like Barrick Gold and Resolute Mining.
Data from the mines ministry, shared with Reuters, shows a drop in gold reserves from 881.7 tons to 731 tons. However, no reason was provided for the decline in reserves over the two-year period.
Among Mali’s mines, Resolute Mining’s Syama leads with 141 tons of gold reserves, followed by Allied Gold’s Sadiola at 108.1 tons, and B2GOLD’s Fekola mine with 107.7 tons, highlighting the nation’s rich resources.
Mali’s industrial gold output reached 66.5 tons in 2023 but is expected to fall by 14% to 57.3 tons in 2024. With an average production of 65 tons annually, current reserves could sustain mining for 11 more years.
In November, Mali agreed with Russia to build a gold refinery with a 200-ton capacity. Concerns over continuous flooding in Nigeria’s Jigawa State have risen, with 33 deaths and 44,000 people displaced following days of heavy rainfall.
