This is a best prospect industry sector for this country. Includes a market overview and trade data.

Overview

Gold dominates Mali’s natural resource sector, and Mali is the fourth largest gold producer in Africa (trailing Ghana, South Africa, and Sudan). Gold is by far Mali’s most important export, comprising 64% of total exports and 21% of government revenue in 2018. The price of gold fluctuates with the world market price. The sector has experienced some difficulties as unproductive mines have been closed and others face imminent closure. However, two new mines opened in 2017 with a capacity of 14 tons a year. Two smaller mines opened in 2015. Gold panning is thought to constitute approximately 10% of gold exports. More than two million people, representing more than 10% of the population, depend on the mining sector for income.

 

2015

2016

2017

2018

Total Local Production

50 tons

50 tons

≃ 50 tons

60.8 tons

Total Exports

$1.7 Billion

$1.9 Billion

$2 Billion

$2 Billion

Leading Sub-Sectors

Mali also has other mineral prospects as the majority of the territory remains largely unexplored and unmapped. The Ministry of Mines estimates 800 tons of gold deposits, 2 million tons of iron ore, 5,000 tons of uranium, 20 million tons of manganese, 4 million tons of lithium, and 10 million tons of limestone. Mali is on track to start lithium production by 2020, with 694,000 of exploitable reserves already discovered.

Opportunities

As the government seeks to reduce dependency on gold and diversify the mining sector, foreign firms have a unique opportunity to support this expansion. Mali has also formalized and reformed the process of registering and delivering research and exploitation permits to mining companies.

Web Resources

Ministry of Mines and Petroleum
Embassy Bamako’s Commercial Section: BamakoEcon@state.gov

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