Mali Sets Up State-Owned Company to Manage Mining Holdings

Mali’s Council of Ministers on Friday approved legislation establishing the Malian Mining Heritage Company, a state-owned entity designed to consolidate and manage the government’s interests in mining companies operating across the country.

The decision was taken at a cabinet meeting held at the Koulouba Palace under the chairmanship of the Head of State. The newly created company, known as SOPAMIM SA, is structured as a public limited company wholly owned by the Malian State.

Authorities said the move is part of broader reforms under Mali’s Mining Code. The law expands state participation in mining ventures and provides for the creation of a dedicated holding company to oversee and manage public equity stakes in the sector.

Under its mandate, SOPAMIM will manage the State’s existing shares in mining companies, acquire strategic stakes in new projects, and safeguard national interests within the extractive industry. The company will also centralize the administration of public mining assets, a function that had previously been spread across multiple government agencies.

The mining sector remains a cornerstone of Mali’s economy, accounting for more than 75 percent of export earnings, around a quarter of budget revenues, and close to 10 percent of gross domestic product, according to official figures.

Mali is one of Africa’s leading gold producers, with annual output exceeding 70 tonnes in recent years. Gold remains the country’s largest source of foreign exchange and a key driver of economic activity.