Mali’s military-led government is tightening its grip on the country’s vital gold industry by placing mining oversight directly under the presidency. Junta leader Assimi Goïta has created a new ministerial-level role with sweeping powers over mining policy, compliance, and licensing, and appointed Hilaire Bebian Diarra, a former Barrick Mining executive, to the post. The move shifts authority away from the Ministry of Mines and reflects Bamako’s push for greater state control under its tougher 2023 mining code. That overhaul has already helped recover more than $1.2 billion in arrears but rattled investors and contributed to a sharp drop in gold output. As Mali leans harder on its biggest revenue source, the balance between sovereignty and investor confidence is under renewed strain.
CNBC Africa
