The military government of Mali announced that it and Russia have reached an accord for the construction of a gold refinery in Bamako.
This agreement, a non-binding memorandum of understanding, is one of several between the two nations as Russia is attempting to extend its regional influence.
Minister Alousséni Sanou told a state television that the deal consists of the construction of a refinery with an annual capacity of 200 tonnes.
He said that the memorandum is valid for four years but did not specify when construction would commence.
If constructed, it would be the greatest gold refinery in the West African nation.
"This will allow us not only to control all gold production but also to be able to correctly apply all taxes and duties," said Sanou.
The agreement signifies Russia's increasing involvement in Mali, a prominent gold-producing nation in Africa, coinciding with the decline of Western influence in the region.
Rosatom, the state-owned nuclear energy company of Russia, and Mali entered into a mineral exploration and nuclear energy production agreement last month.
Mali also reached an agreement with a Russian company to construct a 200- to 300-megawatt solar power facility by mid-2025.
The military of Mali, which seized power in a coup in 2021, expelled French troops fighting Islamist militants last year and formed an alliance with the Russian military contractor Wagner Group, which has mining agreements and operations throughout Africa.
Mali’s industrial gold production was 66.2 tonnes in 2022, according to Reuters.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
