Mali Junta Completes Takeover of Gold Mines Abandoned by Foreign Firms | Firstpost Africa | N18G

Mali Junta Completes Takeover of Gold Mines Abandoned by Foreign Firms | Firstpost Africa | N18G

Mali’s military government has taken over two major gold mines — Yatela and Morila — previously abandoned by foreign companies. This move is part of a wider trend among junta-led West African nations reclaiming control over strategic resources. Mali, Africa’s second-largest gold producer, is seeking to boost state revenues and reduce reliance on Western firms. The government is also escalating tensions with global mining giant Barrick by placing its top-producing Loulo-Gounkoto complex under state control. While these takeovers aim to increase national wealth, reviving the mines will require major investment and expertise, posing serious challenges for the junta regime.

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