Mali detains five gold mine managers over alleged code breaches, sources say
Mali has detained five managers from the local entity operating the Yanfolila gold mine over alleged breaches of the country's mining code, two sources told Reuters.
The employees from Societe des Mines de Komana (SMK) were detained on Friday for allegedly failing to repatriate foreign currency from export revenues, which is required under the mining code, said the sources.
SMK could not be reached for comment by telephone or email.
The code, which raises taxes and seeks to hand over higher stakes in mining assets to the state, has sparked disputes with operators since it was brought in in 2023, including a two-year standoff with Barrick Mining before a deal was struck in November.
The government said in December it had recovered 761-billion CFA francs ($1.2-billion) in revenue shortfalls from miners following its strict implementation.
All five of the detained are Malian, said the sources, one of whom is close to the company, while the other is familiar with the matter. Both requested anonymity because they were not authorised to speak to the media.
A spokesperson for Mali's justice ministry did not immediately respond to a request for comment. The mines ministry spokesperson said the ministry did not have information on the issue.
West Africa-focused lender Coris Bank International - operating through a subsidiary, Nioko Resources - acquired the Yanfolila mine from UK-based Hummingbird Resources in 2025.
The mine produced 83,965 ounces of gold in 2023, with 493,000 ounces in reserves, according to its profile.
Mali increased its stake in SMK to 20% in 2025 in line with its revised mining code.
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