Mali Takes Majority Stake in New Industrial Explosives Venture with Chinese Partner
Mali has acquired a 51 percent stake in a new explosives firm with China. The move implements mining reforms and addresses production needs in the sector.
Insights:
The government of Mali 
MLhas announced that the state has acquired a 51 percent majority stake in FARATCHI-CO SA, a newly formed industrial-explosives joint venture. This project is being established in partnership with Auxin Chemical Technology, a subsidiary of the China 
CNbased NORINCO Group, which will hold the remaining 49 percent interest. As part of the agreement, the Chinese partner will provide the necessary financing and technical expertise for the project. Officials expect the construction of the production plant to be completed within 12 months, securing a local supply of critical mining inputs for Mali.
MLhas announced that the state has acquired a 51 percent majority stake in FARATCHI-CO SA, a newly formed industrial-explosives joint venture. This project is being established in partnership with Auxin Chemical Technology, a subsidiary of the China CNbased NORINCO Group, which will hold the remaining 49 percent interest. As part of the agreement, the Chinese partner will provide the necessary financing and technical expertise for the project. Officials expect the construction of the production plant to be completed within 12 months, securing a local supply of critical mining inputs for Mali.First introduced in 2024, the FARATCHI-CO SA venture serves as a concrete implementation of the 2023 mining code reforms passed in Mali. These legislative updates were specifically designed to increase state equity in mining projects and strengthen local-content requirements across the extractive industries. The new facility will produce civil-use explosives required for the extraction of Gold , lithium, and various quarrying materials. Maliis currently one of the top producers of Goldin Africa, hosting roughly 30 industrial gold operations, including 15 large-scale mines, along with two major lithium mines and numerous quarrying sites.
