Mali’s gold output takes a tumble
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Mali’s gold output takes a tumble
Mali’s gold output took a tumble in 2025 amid a two year long standoff with Barrick Mining.
The two-year-long standoff between the government of Mali and mining giant Barrick hurt the Malian economy at a time when growth was needed more than ever.
The country’s gold output took a tumble in 2025 and dropped with almost 22.9% (source: Reuters).
While industrial gold output stood at a reasonable 54.8 metric tons in in 2024, the country’s mining sector managed to produce only 42.2 metric tons in 2025.
Artisanal gold output remained unchanged at six tons in 2025.
Barrick and Mali at loggerheads
Barrick and Mali were at loggerheads for two years after Mali adopted a revised mining code that Barrick did not agree with.
Between 2023 and 2025 the Malian government seized Barricks’ gold stocks, blocked exports, closed Barrick’s Bamako office and had a court place the mine under provisional state administration.
Barrick suspended operations at the Loulo-Gounkoto mine and four employees were detained amid the dispute.
The two parties only reached a settlement late in 2025 and Loulo-Gounkoto reopened under a state-appointed administrator.
However, persistent logistical issues capped output at just 5.5 tons in 2025, down from 22.5 tons a year earlier (source: Barrick).
Major contributors to the Mali economy
In the meantime, Canadian listed B2Gold overtook Barrick to become Mali’s largest gold producer in 2025, delivering 17.5 tons.
Allied Gold, boosted by its large new mine Korali-Sud alongside its Sadiola mine, ranked second with 9.58 tons, followed by Barrick with 5.5 tons.
The Loulo-Gounkoto gold mining complex in western Mali is one of Barrick Mining Corporation’s most important assets and among the largest gold operations in West Africa.
Barrick holds 80% of the complex, with the Malian government owning the remainder.
Before the suspension of operations, Loulo-Gounkoto was a major contributor to Barrick’s global gold output at about 15% of total production and one of Mali’s top industrial producers.
The mine also played a key role in Mali’s economy, generating tax revenue, employment and business for local suppliers and communities.
Its operations included both open-pit and underground mining, with robust ore processing infrastructure
Image: Underground mining at the Loulo-Gounkoto mine in Mali during the good times. Image credit: Barrick Mining Corporation.
Mali’s gold output takes a tumble