Our Standards: The Thomson Reuters Trust Principles. Mali’s military government said it has signed an agreement with Russia to build a gold refinery in the capital Bamako, one of a slew of deals between the two countries as Russia seeks to extend its regional influence.
Will Russia control gold production in Mali?
"This will allow us not only to control all gold production but also to be able to correctly apply all taxes and duties," Sanou said. The deal is the latest sign of Russia’s deepening interests in Mali, one of Africa’s largest gold producers, just as Western influence there wanes.
Does Russia have a nuclear deal with Mali?
Russia’s state nuclear energy company Rosatom signed an deal with Mali in October to explore for minerals and produce nuclear energy. Sanou said he had also signed a deal with a Russian firm to build a 200- to 300-megawatt solar power plant by mid-2025.
How much gold does Mali produce a year?
Industrial gold production in Mali totalled 66.2 tonnes last year, mostly from mines owned by Barrick Gold (ABX.TO), B2Gold (BTO.TO), Resolute Mining (RSG.AX), Allied Gold (AAUC.TO) and Endeavour Mining . Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
What does Russia’s deal with Mali mean for Africa?
The deal is the latest sign of Russia’s deepening interests in Mali, one of Africa’s largest gold producers, just as Western influence there wanes. Russia’s state nuclear energy company Rosatom signed an deal with Mali in October to explore for minerals and produce nuclear energy.
What happened to Mali’s military in 2021?
Mali’s military, which took power in a 2021 coup, last year kicked out troops from former colonial power France, who were fighting Islamist militants, and teamed up with the Russian military contractor Wagner Group, which has operations across Africa, including lucrative mining deals.