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Top African Gold Producers (2024 Estimates)
Comparison of gold production by tonnes across key African nations.
Primary Sources
Mapping Mali's gold and natural resource wealth - Al Jazeera
The West African country holds Africa’s third-largest gold reserves, plus vast lithium and uranium deposits.Mali has been gripped by a succession of coups, political instability and a security crisis since at least 2012.In the most recent upheaval on April 25, an al-Qaeda-linked armed group joined forces with Tuareg separatists to launch simultaneous attacks on targets across the country, killing Defence Minister Sadio Camara and prompting armed groups to declare a siege on the capital, Bamako.Recommended Stories list of 4 itemslist 1 of 4Mali probes soldiers suspected of involvement in military base attackslist 2 of 4Is Mali’s military government losing control?list 3 of 4Mali leader Goita takes defence post after minister killedlist 4 of 4Tuareg rebels hold dozens of soldiers in Mali as prisonersend of listAmidst this struggle for security and control, Mali’s 24 million people are sitting atop a vast, untapped gold resource, estimated at about 800 tonnes of proven reserves, the third largest in Africa after South Africa (5,000 tonnes) and Ghana (1,000 tonnes).Mali’s government has claimed geological gold potential could be as much as 2,000 tonnes.More than two million people depend on the mining sector for income, with most gold mines concentrated in the southern regions of Sikasso and Koulikoro and the western region of Kayes, along the Birimian volcanic belt.(Al Jazeera)According to World Gold Council estimates, Mali produced about 100 tonnes of gold in 2024, including artisanal output, making it Africa’s second biggest producer after Ghana (140.6 tonnes) and just ahead of South Africa (98.9 tonnes).This figure far exceeds Mali’s official annual output of roughly 57 tonnes, with the gap largely explained by widespread smuggling and undercounted artisanal production.Gold is by far Mali’s largest export, accounting for nearly 80 percent of total exports and generating about $4.3bn in 2024, according to the United States Department of Commerce and the International Monetary Fund.According to the Observatory of Economic Complexity, after gold, Mali’s biggest exports include raw cotton, refined petroleum, oily seeds and iron ore.Mining dominated by foreign multinationalsMali’s mining sector has historically been dominated by foreign mining companies, particularly Canadian and Australian firms, with Chinese involvement on the rise.In 2023, Mali’s military transition government – which came to power in a coup in August 2020 – introduced a new mining code allo...
Mali Secures First U.S. Mining Investment as Flagship Gold Revives ...
Flagship Gold Partners with Mali’s SOREM to Restart Morila Mine in First U.S. Mining Investment Under New Code Mali has secured its first U.S. mining investment, marking a significant step in reviving one of the country’s most historic gold operations. Flagship Gold Corp., a United States-based mining company, has entered a strategic partnership with Mali’s state-owned Mineral Resources Research and Exploitation Company (SOREM) to restart production at the Morila gold mine—the first American-backed project under Mali’s new mining code. Strategic Agreement Signed in Bamako The deal, confirmed by Mali’s military-led government and reported by Reuters, was finalized on October 8, 2025 in Bamako. Under the agreement, Flagship Gold Corp. will acquire an equity stake in Morila SA and provide capital and technical expertise to resume full-scale operations at the site. The partnership follows the June 2025 takeover of the Morila mine by the Malian government, which acquired an 80% stake from Australia’s Firefinch Limited for a symbolic $1 after years of declining production and financial distress. Morila: The Cornerstone of Mali’s Gold Industry Located near Sanso in the Sikasso region, the Morila mine has been a cornerstone of Mali’s gold sector since opening in 2000. The site, previously operated by Barrick Gold and AngloGold Ashanti, has produced more than 7.5 million ounces of gold over its lifetime. Remaining reserves are estimated at 2.5 million ounces, though operations were suspended in 2022 due to falling output and rising costs. Flagship’s Role in the Revival Under the new agreement, Flagship Gold, incorporated in 2024 and led by CEO Ron Slaughter, will partner with SOREM to rehabilitate infrastructure and restart gold production. Mali’s transitional government hailed the deal as a “win-win” partnership, designed to attract responsible foreign investment while strengthening national control over strategic resources. “This partnership benefits both parties,” said Amadou Keita, Mali’s Minister of Mines. “It reinforces our commitment to reclaiming control of our resources and ensures that mining works for the Malian people.” The deal comes amid a wave of resource nationalism sweeping across the Sahel region, where military-led governments in Mali, Burkina Faso, and Niger are tightening oversight of gold and uranium assets. Reforms and Economic Context Mali’s new mining code, adopted in August 2023, grants the state up to 30% ownership in new pr...
Gold Miners in Mali Amid Rising Conflict: Stay or Go?
Mali's Mineral Wealth: More Than Just Gold Why This West African Nation Commands Global Attention Mali consistently ranks among Africa's five largest gold producers, and while that status alone would attract foreign capital, the country's mineral profile extends well beyond a single commodity. The Kayes region in western Mali serves as the country's industrial gold heartland, accounting for ...
Gold Miners in Mali Increase Private Security Amid Conflict
Despite the heightening physical risks, the strategic value of Mali's mineral wealth continues to anchor international investment. As a premier global gold producer during a period of near record prices, the country remains indispensable to the portfolios of major miners like Barrick Gold, which projects an output of up to 290,000 ounces from its Loulo-Gounkoto site in 2026. Industry ...
