AGP Executive Report

Mining and Energy: Mali signed two agreements with Russia’s Zarubezhgeologia to map the country’s subsoil and build a mining data system, potentially improving access to geological information for investors. Rosatom also says it is working with Mali on a solar power project with energy storage. Regional Trade: Ghana is proposing a trade agreement with Burkina Faso to deepen cross-border commerce and industrial cooperation, including in agro-processing, shea, cotton and crafts. The announcement came at Ouagadougou’s SIAO fair, where Mali is a special guest. Telecoms: Sonatel Group, which operates in Mali, reported a 13% rise in consolidated third-quarter profit from a year earlier. Public Finance: The IMF projects Mali’s public debt will ease from 41.9% of GDP in 2025 to 40.8% in 2026.

Russia-Mali Trade: President Assimi Goïta and Vladimir Putin said trade ties could grow, though current volumes remain modest; a bilateral commission is expected to help advance cooperation. Mining: Mali signed two agreements with Russian firm Zarubezhgeologia to map the country’s subsoil and develop a mining data system, potentially strengthening the information available to investors. Energy: Rosatom says it is working with Mali on a solar power plant equipped with energy-storage systems. Gold: Resolute Mining reported operational challenges in Mali but said it made progress across key projects; the company lowered its 2026 production outlook to 205,000–225,000 ounces. Telecoms: Sonatel Group’s third-quarter profit rose 13% year on year; the group includes subsidiaries in Mali, though it did not provide a Mali-specific result.

Mining Investment: Mali signed two agreements with Russia’s Zarubezhgeologia to map priority areas and build a national geological data system, including training for mining officials. The work could improve the information available to future explorers. Gold Sector: Resolute Mining reported 44,398 ounces of group production in the third quarter and $18.6 million in spending at its Syama mine. It cut full-year production guidance to 205,000–225,000 ounces, citing operational challenges in Mali. Fuel Supply: A convoy of 1,107 tank trucks arrived in Bamako, highlighting the scale of fuel deliveries needed to keep the economy moving. City Growth: Bamako is projected to join sub-Saharan Africa’s 15 largest urban centres by 2050, according to World Bank projections, raising the stakes for infrastructure and job creation.

Sustainable Agriculture: A Malian entrepreneur restoring farmland has won a 2026 UN SDG Action Award, bringing international recognition to land-rehabilitation work. Gold Mining: Resolute Mining reported 44,398 ounces of third-quarter production at an all-in sustaining cost of $2,506 an ounce, and cut its full-year production guidance to 205,000–225,000 ounces. Mining Data: Mali signed two agreements with Russia’s Zarubezhgeologia to map two priority areas and build a national geological information system, with training for Malian geology and mining staff. The projects could help identify areas for exploration and make resource data more accessible.

Mining Investment: Mali signed deals with Russian state-owned Rosgeologiya to map two areas covering more than half the country and build a digital system for geological data, mining licences and oversight. The project could help identify prospects for gold and lithium investment, though its value will depend on transparent access to the data and licensing process. Fuel Supply: A convoy of 1,107 tank trucks arrived in Bamako, a major delivery for the country’s fuel supply. Russia-Africa Ties: At the Moscow summit, Russia is pitching trade and investment alongside deeper mining and energy cooperation. For Mali, closer ties may bring expertise and capital, but turning agreements into productive investment remains the test.

Russia–Mali Investment: Moscow says it is discussing projects worth several billion dollars across Mali, Burkina Faso and Niger, including exploration and digital services; no deals are confirmed. Russia is also promoting direct payments in national currencies, while Mali and Burkina Faso have presented the planned AES investment bank as a way to finance joint projects. Energy: Mali’s draft decree would reserve land in Gongasso for a solar power plant, a step toward expanding domestic generation. Land and Business: A ten-year sentence for former Bamako mayor Adama Sangaré has renewed debate over public land management and the security of property rights.

Solar Investment: Mali has reserved 211.93 hectares in Gongasso for a planned 100MW solar plant with 100MWh of storage. Funding, construction costs and a launch date remain undisclosed. Land and Property: Former Bamako mayor Adama Sangaré’s 10-year sentence over disputed land allocations has put public land governance and investor confidence under scrutiny; his lawyers plan to appeal. Russia-Africa Summit: Assimi Goïta is in Moscow with Mali’s economy minister as leaders discuss trade and investment and prepare a new partnership plan. Trade and Supply: A convoy of 1,107 fuel tankers has arrived in Bamako, while Mali’s livestock export ban is raising concerns about damage to private-sector trade.

Land and Property: Former Bamako mayor Adama Sangaré’s 10-year sentence over disputed land allocations near Sénou airport has put public land management and municipal decision-making under scrutiny; his lawyers plan to appeal. Energy Investment: Mali approved a 211.93-hectare site in Gongasso for a planned 100-megawatt solar plant with battery storage. Construction timing, financing and cost remain unclear. Russia–Africa Summit: President Assimi Goïta is in Moscow for talks expected to cover investment, energy and trade, as leaders prepare a new 2027–29 partnership program. Fuel Supply: A convoy of 1,107 tanker trucks has arrived in Bamako, a major delivery for the country’s fuel supply.

Fuel Supply: A convoy of 1,107 tanker trucks reached Bamako on Monday under military escort, the largest arrival this month. Authorities are coordinating distribution to depots and service stations. Regional Trade: ECOWAS and the Alliance of Sahel States have opened talks and will form working groups to draft a cooperation framework, offering a route to rebuild ties with potential economic importance for Mali. Mining Investment: Kodal Minerals, already producing lithium in Mali, plans to expand across West Africa and has agreed to acquire up to 80% of a lithium exploration project in Ghana. Livestock Trade: Mali’s livestock export ban is drawing concern over disruption to private businesses and the risk of longer-term economic harm.

Fuel Supply: A convoy of 1,107 tanker trucks reached Bamako on Monday under military escort, the largest delivery to the capital so far this month, to replenish depots and service stations. Telecoms Investment: IQSTEL closed the first financing tranche for a planned 51% stake in Ultranet, a profitable telecom platform operating in six West African markets, including Mali. Ultranet reported $130.9 million in 2025 revenue. Mining: Kodal Minerals, which began lithium production in Mali last year, plans to expand in West Africa with a potential stake in a Ghanaian exploration project. Regional Trade: ECOWAS and the AES have begun talks on a cooperation framework, a step toward repairing ties that could support cross-border economic links. Livestock Trade: Mali’s livestock export ban has drawn warnings of damage to private businesses, putting the economic costs of the restriction in focus.

Construction Standards: Mali seized 20,240 non-compliant rebar bars after inspections at several companies, warning that the material threatens building safety and fair competition. Mining: PDI Gold, which operates the Nampala mine in Mali, saw shares rise 7.2% despite gold slipping below US$4,000 an ounce; the company issued no new market-sensitive announcement. Agriculture and Trade: Mali’s livestock export ban remained a flashpoint, with reports warning that restrictions could damage private businesses and export livelihoods. Economic Diplomacy: President Assimi Goïta travelled to Moscow for the Russia–Africa summit with Finance Minister Alousseni Sanou; earlier talks pointed to potential cooperation in transport, energy, natural resources and logistics, but no new deals were announced. Telecoms: Maroc Telecom reported 6.9% revenue growth across its Moov Africa subsidiaries, driven mainly by rising data use, though it did not break out Mali’s results.

Russia-Africa Summit: Assimi Goïta has left for Moscow with Mali’s economy and finance minister, ahead of the October 28–29 summit. Talks could advance cooperation in transport, energy, natural resources and logistics. Construction Standards: Mali’s commerce authorities seized 20,240 non-compliant rebar bars after inspections, citing risks to building safety and fair competition. Livestock Trade: Mali’s export ban is drawing concern over its impact on private businesses and the wider economy, with debate over whether short-term relief could bring longer-term damage. Artisan Business: Mali and Niger will be special guests at Ouagadougou’s SIAO handicrafts fair, where organizers expect more than 6,000 exhibitors and over 100 professional buyers.

Regional Trade: Benin and Burkina Faso signed a roaming agreement on October 23, part of a wider effort that includes Mali to lower mobile costs for travelers, traders and transporters. Regulators now need to put the deal into effect and make pricing clear. Market Opportunities: Ouagadougou’s SIAO handicrafts fair expects more than 6,000 exhibitors and 800,000 visitors from October 30 to November 8, with Mali and Niger as special guests. The event’s focus on local products and industrialization could open doors for Malian artisans and businesses. Mining Investment: Kodal Minerals says its producing Bougouni lithium mine is helping it build a wider West African portfolio. The company plans to fund exploration from existing cash and mine revenue, as it pursues a stake in a Ghana lithium project. Livestock Exports: Mali’s export ban has sparked warnings of damage to private-sector activity, with debate over whether short-term relief could come at a longer-term cost to the economy.

Crafts & Trade: Mali will be a special guest at Ouagadougou’s SIAO fair, running October 30–November 8. Organizers expect more than 6,000 exhibitors and 100 professional buyers, with a focus on linking craftsmanship to industrialization and promoting local products. Mining: Kodal Minerals is looking to expand its West African lithium portfolio beyond its producing Bougouni mine, using existing cash and mine revenue to fund exploration. Livestock Exports: Mali’s export ban is drawing warnings of disruption to private traders and export earnings, with debate over whether short-term relief can outweigh longer-term economic costs. Regional Connectivity: New roaming arrangements between Benin and Burkina Faso add to regional efforts that already include Mali; regulators are pressing for clear timelines and pricing to make cross-border mobile services more affordable.

Regional Trade: Mali is a special guest at Ouagadougou’s SIAO handicrafts fair, which expects more than 6,000 exhibitors from 30 countries and 800,000 visitors—an opportunity to showcase local products and connect sellers with buyers. Mining Investment: Kodal Minerals says its producing Bougouni lithium mine underpins plans to expand across West Africa. The company aims to fund exploration from cash flow and has agreed to pursue up to an 80% stake in a Ghana lithium project. Livestock Exports: Mali’s livestock export ban is drawing warnings that state intervention could squeeze private businesses and cause wider economic damage. Capital Markets: The BRVM is calling for closer alignment of rules across African exchanges, building on the shared UEMOA market to help companies raise capital and attract cross-border investors. Regional Commerce: Mali, Burkina Faso and Niger have resumed talks with ECOWAS, with proposed working groups offering a route toward renewed cooperation on trade.

Mining: Kodal Minerals plans to expand its West African lithium portfolio beyond Mali’s producing Bougouni mine, adding a Ghana project where it can earn an 80% stake. The company says it will fund exploration from cash reserves and mine revenues. Capital Markets: The BRVM is calling for more harmonised rules across African exchanges to deepen cross-border investment, drawing on its shared market and regulatory framework across eight UEMOA countries. Livestock Trade: Mali’s livestock export ban is raising fears of a damaging blow to private businesses and the wider economy. Regional Trade: ECOWAS and the Sahel states have agreed to set up working groups on cooperation, offering a path to protect trade ties despite their political split.