KEY POINTS
- Mali produced 23.5 tons of industrial gold in the first half of 2026, about 30% more than a year earlier.
- B2Gold’s Fekola mine led production with 8.85 tons, while Barrick’s Loulo produced 6.9 tons.
- New projects including Menankoto and Kobada could significantly increase Mali’s gold output from 2027 onward.
Mali’s gold mining sector has recorded a strong rebound in the first half of 2026, with industrial gold production rising by about 30% compared with the same period last year.
The increase marks a significant improvement for one of Africa’s leading gold-producing countries, which experienced a sharp decline in output in 2025 amid growing tensions between the government and mining companies over reforms aimed at increasing state revenues from the sector.
According to data from Mali’s mines ministry, industrial gold production reached 23.5 metric tons between January and June 2026, compared with approximately 18 tons produced during the same period in 2025.
The figure was also higher than the government’s forecast of 21.2 tons for the first half of the year, indicating that mining operations have performed better than anticipated.
If production maintains its current pace during the second half, Mali could meet or even surpass its full-year industrial gold production target of 43.2 tons.
The latest performance provides a positive signal for the country’s mining industry after a difficult 2025, when industrial gold production dropped to 42.2 tons, down significantly from the record 66.5 tons recorded in 2023.
Government reforms had unsettled mining companies
Mali has been tightening its control over the mining industry as the government seeks to secure a larger share of revenue from the country’s mineral wealth.
The reforms have included changes designed to increase state participation and improve government earnings from mining operations. However, the policy changes have also created tensions with international mining companies and contributed to uncertainty within the sector.
The disruption was reflected in last year’s weaker production figures.
The strong first-half performance in 2026 could therefore indicate that mining operations are beginning to adjust to the new regulatory environment, although the mines ministry did not provide an explanation for the stronger-than-expected output.
Gold is a critical component of Mali’s economy, making the performance of the mining industry particularly important to government revenues, foreign exchange earnings and economic activity.
The 30% increase in first-half industrial production suggests that the sector is recovering despite the regulatory and operational challenges that affected production in 2025.
However, the government’s efforts to secure greater returns from mining will continue to shape relations with international operators. The ability to balance increased state participation with a stable investment environment will be crucial if Mali is to attract the capital needed to develop new mines.
