News & Current Affairs
Mali Begins Construction of Russian-Backed Gold Refinery
Mali has launched construction of a gold refinery near Bamako in partnership with Russia’s Yadran Group, marking a bold step toward “economic sovereignty,” according to junta leader Gen Assimi Goïta. Since his 2021 coup, Goïta has pivoted Mali’s alliances away from the West and toward Moscow, echoing similar shifts in Burkina Faso and Niger. The refinery is expected to process 200 tons of gold annually and give Mali a majority stake, ending decades of exporting raw gold abroad. It also signals growing pressure on Western firms, like Canada’s Barrick, whose operations in Mali are now under state control. The plant could become a regional gold hub, refining not just Mali’s output but also that of neighboring countries.
BBC
