The military government of Mali has inked a deal with Russia, encompassing a gold refinery project set to take place in Bamako, the capital of Mali.
The agreement entails constructing a refinery with the capacity to process 200 tonnes of gold per year.
The agreement spans a duration of four years but does not outline specific timelines for the construction process.
According to Mali’s mining ministry, gold stands as the country’s primary export commodity in terms of value and remains one of the major contributors to its economic growth.
As per the finance minister, Alousséni Sanou, the project will enable Mali to oversee the entire gold production within the country and ensure the proper application of all taxes and duties.
In the aftermath of the military coup in 2021 and the subsequent withdrawal of French forces from Mali a year later, the country has notably bolstered its ties with Russia in recent years.
