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U.S. firm Flagship Gold secures deal to restart Mali’s Morila gold mine, now state-owned, under new mining code.
U.S. company Flagship Gold Corp. has signed a deal with Mali’s government to restart the Morila gold mine, the first American investment under Mali’s 2023 mining code.
The agreement, finalized in October 2025, grants Flagship equity in Morila SA, which holds 2.5 million ounces of gold in the Sikasso region.
The mine, nationalized in 2023 after Firefinch ceased operations, is now fully state-owned.
The revival aims to boost Mali’s gold output, which fell 32% year-on-year to 26.2 tons by August, amid rising gold prices above $4,000 per ounce.
Financial terms were not disclosed.
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La firma estadounidense Flagship Gold asegura un acuerdo para reiniciar la mina de oro Morila de Malí, ahora propiedad del estado, bajo un nuevo código de minería.