Mali creates Sopamim to centralise its stakes in mining companies

Mali's council of ministers approved the creation of a new state-owned company, Sopamim SA, on 6 February 2026 to acquire and manage the government's equity holdings in mining companies operating in the country. The move continues a multi-year effort by Mali's military-led government to consolidate and professionalise its ownership stakes across the mining sector.

Sopamim's capital will be entirely state-owned, according to the government's statement, and it will sit alongside SOREM, another state vehicle created in 2022 to explore and develop mineral resources directly. Mali joins Niger and Guinea in managing its mining assets through comparable state-owned mechanisms, reflecting a broader regional pattern of governments building dedicated institutions to hold and grow their equity in resource projects rather than leaving those stakes scattered across ministries.

Higher stakes, higher revenue

The new entity follows Mali's 2023 mining code, which raised the combined minimum stake of the state and local investors in industrial mining projects to at least 35%, up from 20% previously, and tightened tax collection. The government has said the changes helped push up state revenue from gold mining companies by 52.5% in 2024, a figure that underscores the financial motivation behind the reorganisation.

Mali remains one of Africa's largest gold producers, with companies including Barrick Mining, Resolute Mining, Endeavour Mining and Hummingbird Resources active in its gold-rich western and southern regions. Notably, the government named a former Barrick executive as special adviser to the presidency overseeing the mining sector just a month before Sopamim's creation, signalling an intent to bring more technical mining expertise directly into government.

Managing, not just taxing

The creation of Sopamim suggests Mali's ambitions extend beyond simply taxing foreign miners more heavily. By centralising its shareholdings under one dedicated body, the government appears to be positioning itself to actively manage its mining investments — deciding when to hold, develop or potentially monetise its stakes — rather than treating equity participation as a passive by-product of licensing deals.

The road ahead

Whether Sopamim can build the institutional capacity to add real value to Mali's mining holdings, rather than simply administering them, will determine whether this latest reform strengthens or merely formalises the state's growing footprint in the sector.

Sources

• TimesLIVE: Mali creates state-owned company to manage mining holdings, 09 Feb 2026

Photo: The flag of Mali, whose government has created a new state company to hold its mining equity stakes. Inna.dicko, Wikimedia Commons, CC0.