Mali has announced the establishment of a state-owned enterprise named 'Sopamin' to manage the nation's interests in mining companies. This decision, revealed by the country's Council of Ministers, aims to consolidate Mali's holdings and ensure better governance of its significant mining resources. Mali is one of Africa's largest gold producers, hosting numerous mining companies such as Barrick Gold, B2Gold, Resolute Mining, Endeavour Mining, and Hummingbird Resources predominantly in gold-rich regions of the west and south.

Other West African nations, such as Niger and Guinea, have similarly structured their resource management through state-owned mechanisms, indicating a regional trend towards greater state control in the mining sector. In 2022, Mali had already established another state-owned company, 'Sourim', tasked with the exploration and development of mineral resources, demonstrating a consistent move to bolster state involvement in the mining industry. In 2023, as part of ongoing reforms, Mali's military government enacted a new mining law increasing the state's and local authorities' stake in mining operations from 20% to a minimum of 35%.

The new regulatory framework has also resulted in improved tax collection, with Mali’s revenue from gold mining companies reportedly increasing by 52.5% in 2024. This significant uplift in income can be attributed to the stricter guidelines and enhanced state ownership within the sector. As the government pushes for more control over its mining assets, it signals an intent to maximize benefits from its natural resources while redefining the landscape of foreign investments in the process.