Mali’s gold crackdown deepens as authorities arrest mine officials

Mali has detained five senior managers linked to the local operator of the Yanfolila gold mine over alleged breaches of the country’s mining code, underscoring the government’s increasingly hardline approach to the extractive sector.

• The government of Mali has detained five senior managers from the Yanfolila gold mine’s operator over breaches of the mining code
• These detentions are connected to allegations of failing to repatriate foreign currency earned, a requirement under the updated mining regulations introduced in 2023.
• The 2023 mining regulations increased taxation and state ownership in mining operations, representing Mali’s commitment to asserting control over its natural resources.
• This action corresponds with broader African trends, where states are tightening control over strategic mineral resources

Two sources familiar with the matter told Reuters the employees of Société des Mines de Komana (SMK) were detained on Friday for allegedly failing to repatriate foreign currency earned from export revenues, a requirement under Mali’s revised mining regulations.

The detention comes amid heightened enforcement of Mali’s mining code introduced in 2023. The revised law increased taxes on mining operations and expanded the state’s participation in mining assets, triggering disputes with several operators.

One of the most prominent involved a two-year standoff with Barrick Mining before an agreement was reached in November.

In December, Mali’s government said it had recovered 761 billion CFA francs ($1.2 billion) in revenue shortfalls from mining companies following stricter implementation of the code, signaling a clear shift toward assertive resource governance.

Africa tightens grip on strategic minerals

Mali’s actions mirror a broader trend across Africa, where governments are moving to nationalise or renegotiate control over strategic mineral resources.

Countries including Burkina Faso, Niger, Guinea and Zimbabwe have revised mining laws in recent years to boost state ownership, increase royalties, and tighten foreign exchange rules, arguing that decades of liberal mining regimes delivered limited benefits to local economies.

At Yanfolila, West Africa-focused lender Coris Bank International, through its subsidiary Nioko Resources, acquired the mine from UK-based Hummingbird Resources in 2025.

The mine produced 83,965 ounces of gold in 2023 and holds an estimated 493,000 ounces in reserves. In line with its revised mining code, Mali increased its stake in SMK to 20% in 2025.

For investors, the detentions highlight rising regulatory and political risks in Africa’s mining sector.

For governments like Mali’s, however, tougher enforcement is framed as reclaiming economic sovereignty, ensuring revenue repatriation, and capturing greater value from natural resources at a time of fiscal pressure and shifting geopolitical alliances.