New York-based Flagship Gold has partnered with Mali's state-owned miner, the Mineral Resources Research and Exploitation Company (SOREM), to restart production at the Morila gold mine. This marks the first US investment under Mali's new mining code, which was adopted in August 2023. The agreement, signed on 9 October, allows Flagship to acquire equity in operating company Morila SA. The Morila mine contains estimated reserves of 2.5 million ounces (moz). Located in the southern city of Sanso in Mali's ...

Increasing the state's stake in mining operations has been one of the tools governments have used to gain more control over their countries’ natural resources. UNCTAD’s World Investment Report 2025 notes this shift in extractive industries, outlining that “measures less favourable to investors primarily consisted of foreign equity restrictions and tightened permit requirements”.“Countries are saying, it is not good enough to come and extract a resource from here, but you also need to invest in the processin ...