Mali has revoked more than 90 mining exploration permits under a government decree, citing widespread non-compliance with new legal requirements and naming specific local subsidiaries of the likes of Harmony Gold Mining, IAMGOLD, Cora Gold, and Resolute Mining.
The mines ministry said permit holders were asked to submit documents under new rules and that verification found broad failures to comply. The decree states all rights under the canceled permits are “released,” and the covered areas are open for reallocation.
The ministry did not clarify whether companies can appeal or reapply.
Cora Gold told Reuters the decision has no operational impact because it relinquished the affected permits more than two years ago and has not received formal notice from authorities.
The cancellations fit a broader trend of tighter oversight across West Africa, where governments have annulled dormant or non-compliant licenses to raise state revenues and control strategic assets. In Mali, the policy line was already set by the 2023 mining code and a fresh wave of agreements that locked the state royalty at 10% and minimum combined state and local ownership at 35%, while guaranteeing a non-reducible state stake and priority access to dividends. Those approvals covered assets tied to B2Gold’s Fekola, Allied Gold’s Sadiola, Resolute’s Syama, the Goulamina and Bougouni lithium projects, and Roscan Gold Mali-SARL’s exploration renewal.
Operationally, Mali’s industrial gold output is projected to miss its 2025 target amid disruptions at Barrick Gold’s Loulo-Gounkoto complex, the country’s largest gold asset. The mine has been under a court-appointed provisional administrator since June after export blocks and gold seizures escalated a dispute over fiscal terms under the new code. Barrick recorded a loss of about $1.03 billion in Q2 tied to deconsolidating the complex after the change of control.
Geopolitics is in play as Mali has also deepened energy and mining links with Russia, including agreements to supply 160,000 to 200,000 metric tons of petroleum and agricultural products and to expand joint ventures in gold, uranium, and lithium alongside building a state-controlled gold refinery in Bamako.
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