The Malian government has announced plans to establish a state-owned company to administer its interests in mining enterprises, according to a statement from the council of ministers. Several other mineral-rich West African nations, such as Niger and Guinea, already use similar public entities to control their mining stakes.
The new firm, Sopamim, will be fully owned by the state and tasked with acquiring, managing, and supervising Mali’s shareholdings in mining companies, Reuters reported.
Mali ranks among Africa’s top gold producers, hosting major international miners including Barrick Gold, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources, particularly in the country’s western and southern gold belts.
The move builds on earlier reforms in the sector. In 2022, authorities set up another state-owned company, Sorem, to focus on mineral exploration and development. A year later, the military-led administration rolled out a revised mining code that increased state and local participation in mining projects to a minimum of 35%, up from 20%.
The updated legislation also raised taxes on mining companies, contributing to a 52.5% jump in government revenue from gold producers in 2024. In December, officials said tighter enforcement of the new rules had helped recover 761 billion CFA francs (about $1.2 billion) in previously lost revenues, underscoring a more assertive approach to managing natural resources.
Across the region, countries such as Burkina Faso, Niger, Guinea, and Zimbabwe have also overhauled mining regulations in recent years, seeking greater state ownership, higher royalties, and stricter foreign exchange controls after arguing that past liberal mining policies brought limited benefits to domestic economies.