Mali Gold Mining Revenues Hit Record $1.57 Billion in 2025 Despite Production Decline
Gold mining companies operating in Mali contributed a record 888.5 billion CFA francs (approximately $1.57 billion) to the state in 2025, marking a 6.4% increase compared to 835.1 billion CFA francs in the previous year, according to Ministry of Mines data reviewed by Reuters.
The West African nation hosts more than 15 industrial mining operations controlled by multinational companies, including Barrick Mining, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources.
Revenue Structure
According to the ministry’s figures, taxes accounted for 66.1% of total sector contributions in 2025, while customs duties represented 10.5%.
A further 23.3% came from state revenue classified as “domaines,” primarily consisting of dividends paid to the government as a shareholder in mining operations.
The Ministry of Mines did not provide an official explanation for the increase in revenue.
However, a senior ministry official, speaking anonymously as they were not authorised to comment publicly, said the rise was largely driven by record-high global gold prices in 2025, which offset the impact of reduced production volumes.
Decline in Production
Despite higher revenues, Mali’s industrial gold output declined significantly during the year. Production fell by 23% to 42.2 metric tons in 2025, compared with 54.8 metric tons in 2024.
The decline was mainly attributed to a prolonged suspension of operations at Barrick Gold’s assets, which were halted for more than six months amid a dispute between the company and the Malian government.
While production challenges weighed on output levels, elevated global gold prices helped sustain and even increase government earnings from the sector.
The situation highlights the extent to which Mali’s mining revenues remain closely tied to international commodity price movements, even when domestic production fluctuates.
As one of Africa’s leading gold producers, Mali continues to rely heavily on its mining sector for fiscal revenue, foreign exchange earnings, and economic stability.
