Mali is poised for a significant boost in gold production with fresh projects and expansions promising increased output and investment in the country’s mining sector.
Roscan Gold Corporation announced on March 2, 2026, a positive Preliminary Economic Assessment (PEA) for its Kandiolé Gold Project, estimating a robust net present value (NPV) of US$1.29 billion and an internal rate of return (IRR) of 85% under a spot gold price scenario of US$5,280 per ounce. The project is expected to yield 834,858 ounces of gold over a roughly 13-year mine life. The PEA forecasts average annual production of 92,786 ounces of gold over the first four years, with all-in sustaining costs (AISC) averaging US$1,200 per ounce.
“The PEA highlights a robust US$1.29 B NPV5% and 85% IRR under prevailing gold prices, reaffirming our confidence in the Kandiolé project’s potential,” said Nana Sangmuah, President & CEO of Roscan Gold. “We have a high degree of confidence in this study, which is based on straightforward parameters including a conventional contract-mined open-pit operation feeding a centralized CIL plant, with almost all the ore processed sourced from indicated resources.”
The Kandiolé project, located in Mali, West Africa, is situated east of B2Gold’s Fekola mine and near IAMGOLD’s Boto and Diakha deposits, as well as the IAMGOLD Siribaya Deposit. Roscan has an option to acquire 100% of a 254 square kilometer land package within the region, which has already yielded high-grade discoveries at Mankouke South and Central Mankouke. The company is actively expanding its drilling program to further explore key targets in the area.
Separately, the Fekola mine, a major gold producer in Mali, maintains an average annual production between 400,000 and 500,000 ounces of gold. This consistent output underscores Mali’s growing importance as a gold-producing nation.
Another potential increase in production comes from a new project valued at €187 million (approximately $219 million USD), which could add 26 tonnes to Mali’s gold output. Roscan Gold is also considering a $219 million investment in the Kandiolé mine, according to reports. This influx of capital signals strong investor confidence in Mali’s mining sector and its potential for further growth.
The developments come as the country seeks to maximize the economic benefits from its natural resources, with gold representing a significant portion of its export revenue. The increased investment and production are expected to contribute to Mali’s economic development and create employment opportunities.
