By: Ecofin Agency

Mali’s industrial gold production reached 23.5 metric tons in the first half of 2026, about 30% higher than a year earlier, according to Mining Ministry data reported by Reuters. Output also exceeded the government’s forecast of 21.2 tons for the period.

The figures point to a recovery after production fell in 2025. Industrial output dropped to 42.2 tons that year, from 54.8 tons in 2024 and a record 66.5 tons in 2023. The decline was partly driven by the prolonged shutdown of Loulo-Gounkoto, previously one of the main contributors to the country’s gold production.

The complex, operated by Barrick Mining, has been gradually ramping up production since operations resumed in late 2025 after a months-long dispute with the Malian government over the implementation of the 2023 Mining Code and other issues. Loulo produced 6.9 tons of gold in the first half of 2026, already more than the 5.5 tons recorded for all of the previous year. Fekola, operated by B2Gold, remained the largest contributor, with 8.85 tons.

The recovery in production comes as Bamako has sought for several years to increase the state’s share of mining revenue. The Mining Code adopted in 2023 increased state participation in mining projects, while authorities began renegotiations with several operators. In 2024, government revenue from the extractive sector reached a record 978.29 billion CFA francs ($1.7 billion).

In 2025, lower production volumes limited the benefit of higher gold prices. The rebound in output therefore provides a stronger backdrop for mining revenue in 2026, although comprehensive data are not yet available to gauge the impact.

The government is targeting industrial gold production of 43.2 tons for the full year. With 23.5 tons produced by the end of June, the sector is so far running ahead of the projected pace.