Mali’s military junta has commenced the Senou Gold Refinery Construction works in partnership with the Russian conglomerate, the Yadran Group.
The gold refinery project is expected to embody the West African nation’s assertion of its “economic sovereignty”. Additionally, it is expected to ensure that Mali benefits from its mineral wealth, military leader Gen Assimi Goïta mentioned.
Senou Gold Refinery Construction Project Factsheet
Location: Senou, near Bamako
Commencement: Construction officially launched on Monday, June 16, 2025
Key partners:
- Mali Government: the country’s holds a majority stake in the refinery that is calculated to be 62% ownersip.
- Yadran Group (Russia): this firm provides technical and financial support, holds a minority share.
- Swiss Investment Firm: this firm Provides financial support for the project.
Capacity: 200 tonnes of gold per year
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Furthermore, he has strengthened military and economic ties with Russia since rising to power following a coup in the year 2021. In the contrary, he has reduced relations with the country’s former colonial power France and other Western countries.
Russia’s Influence Growing in the Region
This gold refinery project is a reflection of a broader trend in the region, with neighbouring countries such as Burkina Faso and Niger also leaning towards Russia after the overthrow of civilian leaders.
Also, Western firms have since been having a difficult time with the latest example being Mali’s decision to set up a huge gold mine that is run by Canadian giant Barrick, into administration, effectively bringing it under state control.
Capacity of the Project
On Monday, Gen Goïta along with Yadran Group head Irek Salikhov attended a ceremony for the construction of the refinery which will boast a 200-tonne capacity, in Senou, not far from Mali’s apital, Bamako.
Mali will have a majority stake in the refinery and Yadran Group will have a minority share.
Significance of the Senou Gold Refinery Construction Project
The upcoming plant is expected to enable Mali to “refine all the gold mined on its soil. Additionally, it is expected to end the decades of crude export to foreign refineries”, he added.
Mali currently stands as Africa’s second-biggest producer of gold. However, many of its people remain in poverty 65 years after independence.
Also read: Tender launched for the construction of Sanankoro gold mine in Mali
