The West-African nation of Mali is as mineral-rich as it is unexplored, with a wealth of gold resources beneath its surface only just being discovered.
The third-largest gold producer in Africa, Mali has seven projects currently in operation, and there is plenty of room for growth as only six of the country’s 133 potentially gold-rich regions have been mapped out to date.
In 2017, the World Bank described Mali’s economic performance as being “strong, with robust growth and, more recently, [showing] an apparent drop in poverty rates overall.” Crediting the agriculture and services sectors, Mali experienced an estimated growth rate of nearly six percent in 2016. Growth is expected to stay at a robust five percent over the medium term, with added support from the resource sector.
Transforming Mali into a premier destination for foreign investment has been a top priority for legislators. In an interview with Mining Technology, Bady Baldé, the regional director for Francophone Africa at EITI, called Mali’s emphasis on attracting foreign investment a strong foundation on which to build on. He emphasized that the world had taken notice of Mali’s commitment towards transparency and its favorability toward mining companies.