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GDP
2018: $892 per person
Currency: CFA franc
Main article: Frank CFA (CFA)
1962: Mali's first president, Modibo Keita, decided to abandon the FCFA colonial franc
On June 30, 1962, Modibo Keita, the first president of the Republic of Mali, decided to abandon the French colonial currency FCFA, which was imposed on 12 new African countries. For a Malian president who leaned more toward a socialist economy, it was obvious that a treaty to continue colonization with France was a trap and a burden on the country's development. A few years later, Keita was overthrown by a former soldier from the French Legion.
Inflation
2022: Inflation in November - 11.3%
Power
2023: Blackout protests
On April 26, 2023, in southern Mali, in the city of Bla, hundreds of local residents protested against a long-term power cut. The protesters demand to immediately restore round-the-clock electricity supply to facilitate the life of the population during high temperatures.
During the dry hot season, the air temperature in Mali can reach 45 degrees Celsius. At the same time, the country has been facing power shortages for several decades, especially in rural areas.
2020: Ultra-low energy consumption per capita
and
2019: Electrification rate 50%
Transport
In 2024, the railway network in Mali is represented by one line that connects the city of Kulikoro (Mali) and the port of Dakar Senegal.
The main water transport artery is the Niger River.
2025: Rail gauge - 1000mm
Mining
2025
4th in gold mining in Africa - 68 tons
The project of launching the first refining factory in the country with a state share of 62% from the Russian Yadran
On May 28, 2025, the Malian authorities announced that the national government would own a controlling stake (62%) in the country's first-ever state-owned refining factory. The joint project with the Russian company Yadran is designed to process up to 200 tons of gold per year.
Until now, all Malian gold-bearing concentrate was sent abroad, primarily to Switzerland, for processing. Now Bamako has the opportunity to localize recycling and leave profits domestically.
The agreement with Yadran was a development of the initiatives discussed in the fall of 2024, and fits into the course of the Malian authorities on the deep integration of the mining sector into the country's economy, and not just the export of raw materials.
The creation of a state factory also hits the positions of private players, such as Marena Gold, focused mainly on the archaic artisanal mining market, whose shadow volume exceeds 30 tons per year. Now this area may be under state control.
The project was the first notable practical result of the Russian-Malian investment dialogue. In April, the parties discussed joint projects in the field of power, cotton and the nuclear industry, but it was gold that became the starting point of specific cooperation.
Control over gold processing is not just a business, but a strategic step that strengthens both Mali's economic independence and consolidates Russia's real presence in the country's key sector.
Malian suspension of Canadian gold miner Barrick Gold over government conflict
The lengthy debate, which began in October 2024, was caused by the introduction of a new mining code in the country. The Malian leadership demanded a 35% share in all mining projects in the country, instead of the previous 20%.
A particularly acute topic affected the Canadian company Barrick Gold, with which they demanded dividends and taxes in the amount of 300 billion CFA francs (more than 500 million dollars). And later, the Malian government issued an arrest warrant for the head of the corporation under the pretext of "financial fraud."
In early 2025, Barrick Gold threatened to suspend work on Lawlo Gounkoto, one of the world's largest mining complexes. On January 14, the company moved on from threats, announcing the suspension of activities in Mali.
The Malians took advantage of the moment to collect the company's debts. From the mine, they removed about three tons of gold (half of the corporation's debt), which Canadians could not ship due to state restrictions.
There are still hopes at Barrick Gold to restore relations with the Malian government.
2024
9th in the world in terms of gold production - 70 tons
Start of cooperation with Rosatom in geological exploration
The authorities of Mali and the Russian state corporation Rosatom in July 2024 signed three cooperation agreements and discussed joint projects, including the prospects for the construction of nuclear power plants.
In addition to discussing the "strategic project for the construction of a low-capacity nuclear power plant in Mali," the parties spoke about projects for the production of solar energy and geological exploration.
Mali at this time is one of the most promising countries in Africa for the search and mining of uranium.
There is no exact data on reserves yet, but there is a lot of indirect evidence that significant uranium mining was carried out illegally in territories not controlled by the state. In addition, the presence of rich deposits in the border areas with Niger, where reserves are explored and actively mined, is very likely.
Exploration in Mali is already being carried out by companies such as Northern Canadian Uranium Inc., Delta Exploration Inc., Rockgate Capital Corp and other Western firms.
2016: Islamists restart gold exports
In 2016, al-Qaeda and Islamic State-linked movements seized hundreds of semi-abandoned and artisanal gold mines in Niger, Burkina Faso and Mali, becoming security guarantors and resellers for millions of illegal prospectors. They declared the collection of zakat from prospectors a "halal" practice and - to the great delight of local residents - abandoned the increasingly less profitable abductions for ransom.
Precious metal mined at the mines they control is sent to Togo, and from there it is transported to the UAE, Saudi Arabia, Turkey, Switzerland and India. As the Zangaro Today telegram channel wrote, in just one year, jihadists became the main employers for residents of remote and depressed desert districts, got rich by $2 billion and found an inexhaustible source of recruits in mines and in the surrounding settlements, welcoming bans on alcohol and prostitution and distribution of alms among those in need.
Agriculture
2019: Low use of pesticides in agriculture
Foreign trade
2023
85% of exports come from gold
Countries in which the mining sector is the basis of exports, as of 2024:
- Botswana - 92% of exports: diamonds
- Guinea - 87% exports: gold
- Mali - 85% of exports: gold
- Burkina Faso - 84% exports: gold
- Suriname - 83% of exports: gold
- Zambia - 79% Exports: Copper
- DR Congo - 77% exports: copper
- Mauritania - 66% of exports: gold
- Guyana - 64% exports: gold
- Kyrgyzstan - 62% of exports: gold
- Namibia - 61% Exports: Diamonds
- Peru - 61% of exports: copper
35% of wheat supplies are in Russia and Ukraine
Russia is supplying Mali with wheat, strengthening ties with one of its closest African allies. According to Africa Intelligence (July 2023), which previously reported supplies, wheat is supplied to Mali at a price of about $220 per ton. This is significantly lower than European grain prices, which currently amount to about $292 per ton.
R&D
2020: R&D expenses - $161 million
Mali IT Market
2022: More than 1 start-up
Consumption
2023: Fish consumption is higher than meat consumption
2019: Average rice consumption: 76 kg per person per year
2018: Vegetable consumption - 121 kg per capita
Membership in organizations
2024: Leaving ECOWAS
The Economic Community of West African States (ECOWAS) is a regional organization established in 1975 to strengthen economic cooperation between West African countries . In January 2024, Mali decided to leave the organization. The peoples of Africa are shedding the yoke of French neocolonialism.
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