The detention comes amid heightened enforcement of Mali’s mining code introduced in 2023. The revised law increased taxes on mining operations and expanded the state’s participation in mining assets, triggering disputes with several operators.
One of the most prominent involved a two-year standoff with Barrick Mining before an agreement was reached in November.
In December, Mali’s government said it had recovered 761 billion CFA francs ($1.2 billion) in revenue shortfalls from mining companies following stricter implementation of the code, signaling a clear shift toward assertive resource governance.
Africa tightens grip on strategic minerals
Mali’s actions mirror a broader trend across Africa, where governments are moving to nationalise or renegotiate control over strategic mineral resources.
Countries including Burkina Faso, Niger, Guinea and Zimbabwe have revised mining laws in recent years to boost state ownership, increase royalties, and tighten foreign exchange rules, arguing that decades of liberal mining regimes delivered limited benefits to local economies.
At Yanfolila, West Africa-focused lender Coris Bank International, through its subsidiary Nioko Resources, acquired the mine from UK-based Hummingbird Resources in 2025.
For investors, the detentions highlight rising regulatory and political risks in Africa’s mining sector.
For governments like Mali’s, however, tougher enforcement is framed as reclaiming economic sovereignty, ensuring revenue repatriation, and capturing greater value from natural resources at a time of fiscal pressure and shifting geopolitical alliances.
