Mali has secured its first US mining investment under its new mining code, as New York-based Flagship Gold Corp signs a deal to revive the Morila gold mine. The agreement with Mali’s state-owned miner grants Flagship equity in Morila SA, which holds an estimated 2.5 million ounces of the precious metal. Once operated by Barrick and AngloGold Ashanti, the mine’s revival comes amid soaring gold prices and a regional push for greater state control over resources. The move follows the 2023 mining code overhaul that allows Mali up to 30% ownership in new projects. Officials hailed the deal as a “win-win,” signaling renewed optimism for Mali’s mining sector despite tightening global competition.
Reuters
