Russia is set to begin geological exploration for lithium, oil, and gas deposits in Mali next month, according to Mali’s Economy and Finance Minister, Alousseini Sanou.
The exploration marks a significant step in Mali’s strategy to diversify its resource base and finance other economic sectors.
The first group of Russian specialists is scheduled to arrive in Mali soon, with plans already in place for subsequent phases of the project.
The cooperation between the two nations was further strengthened during a recent visit by Sanou and Mali’s Energy Minister, Bintou Camara, to Moscow. The trip aimed to discuss investment opportunities and expand economic ties between Russia and Mali, focusing on natural resource development.
Mali, which has vast mineral wealth, sees this partnership as an opportunity to secure funding for other sectors of its economy.
Russia’s involvement in the exploration of lithium, in particular, is seen as crucial, as demand for the mineral—key in electric vehicle batteries and renewable energy storage—continues to rise globally.
In July, Mali’s Mines Ministry signed a memorandum of understanding with Uranium One Group, a subsidiary of Russian state nuclear firm Rosatom, to develop a lithium project in Bougoula, southern Mali.
Sanou noted that lithium production in the region could begin within two years, with all legal and feasibility documents already in place.
Additionally, Russia’s Rosatom subsidiary, Novawind, will construct a 200-megawatt solar plant in Sanankoroba, located just 30 kilometers from Mali’s capital city, Bamako. This renewable energy project is slated to begin construction within the next five months.
This exploration phase will pave the way for future extraction and production. With Russia’s expertise and investment, Mali is poised to become a key player in the region’s energy sector and drive economic growth.
