The Malian military government has said that it has signed an agreement with President Vladimir Putin-led Russian government to build a gold refinery in Mali capital, Bamako.
The agreement is one of deals between the two countries as Russia seeks to extend its regional influence.
Reuters reports that Malian minister, Alousséni Sanou, said in an interview on state television broadcast that the accord, which is a non-binding memorandum of understanding, involves building a 200-tonnes-per-year refinery.
The minister reportedly said that the memorandum will be valid for four years, but he did not give a timeline for construction, but noted that if built, it would be the West African country’s largest gold refinery.
Sanou was quoted as saying that “This will allow us not only to control all gold production but also to be able to correctly apply all taxes and duties.”
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 a 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.
Mali’s military, which took power in a 2021 coup, in 2022 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.
Wagner has been accused of human rights abuses in Mali’s fight against Islamists linked to al Qaeda and Islamic State.
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, Reuters reports.
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