Sahel’s mining shake-up: foreign miners face growing risks as juntas seek control of mines

Foreign mining companies in the Sahel region are currently experiencing a nightmare scenario, as military-led governments in Mali, Burkina Faso, and Niger are seeking to reclaim control over the mining of gold and other valuable resources.
With gold mining accounting for over 90% of Mali’s exports, highlighting its critical economic role, the junta-led government aims to reduce reliance on foreign companies. Barrick Gold, a Canada-based leading gold and copper producer, temporarily suspended operations in the West African country after the junta seized gold stockpiles worth approximately $200 million. “Escalating tensions in the region are being experienced by two major disputes highlighting several intersecting factors that include control of natural resources, economic interests, and political power in the region,” according to Boston-based The North Africa Journal.
While Barrick Gold faces an unprecedented conflict with Mali, French uranium company Orano is locked in a standoff with the junta-led government in Niger. The heart of this feud is over the control of the massive Imouraren uranium deposit, which has escalated after the revoked Orano’s license of the site, forcing the company to suspend production in October 2024. “Looking ahead, we expect the two companies to put up a fight, with Orano pledging to defend its interests, most likely through international mediation. Faces significant legal and reputational challenges, Barrick Gold is also expected to challenge Mali’s attacks on its executives,” says Arezki Daoud, geopolitical analyst from the MEA Risk LLC.