Mali detains Yanfolila mine managers over alleged code breaches
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Malian authorities detained five employees of Société des Mines de Komana (SMK), the local entity operating the Yanfolila gold mine, two sources told Reuters. The sources said the detentions took place on Friday and are linked to alleged non-compliance with a mining-code requirement to repatriate foreign currency generated from export revenues.
SMK could not be reached for comment, Reuters reported. A spokesperson for Mali’s justice ministry did not immediately respond to a request for comment, and a mines ministry spokesperson said the ministry did not have information on the issue.
The case comes as Mali tightens enforcement of a mining code introduced in 2023 that raises taxes and seeks larger state stakes in mining assets, a shift that has previously contributed to disputes with operators, including a prolonged standoff with Barrick before an agreement in November. In December, the government said it had recovered 761 billion CFA francs (about $1.2 billion) in revenue shortfalls from mining companies following stricter implementation of the rules.
Yanfolila changed hands in 2025, when West Africa-focused lender Coris Bank International through its subsidiary Nioko Resources acquired the mine from UK-based Hummingbird Resources. The mine produced 83,965 ounces of gold in 2023 and had 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, Reuters reported. The two sources said all five detained employees are Malian and requested anonymity because they were not authorised to speak to the media.
