Mali has revoked two gold mining permits held by companies linked to Nguvu Mining, a West African mining group founded and led by Ghanaian businesswoman Angela List, adding to the company’s challenges following Niger’s nationalisation of the Samira Hill gold mine in 2025.
Documents reviewed by NorvanReports indicate that Malian Prime Minister Abdoulaye Maïga revoked the permits held by Ségala Mining Corporation (SEMICO) and Société d’Exploitation des Mines de Kofi (Kofi SA) through decrees signed on September 24, 2026.
The National Directorate of Geology and Mines formally notified the companies on October 1, with letters signed by National Director Issa Coulibaly. The notices cited Article 154(c) of Mali’s 2023 Mining Code and directed the companies to undertake closure activities, including site rehabilitation.
Nguvu’s corporate disclosures identify both companies as part of its Ségala mining operations, which it acquired from Endeavour Mining in 2018. The group reportedly holds an 80 per cent stake in the operation, while the Malian state owns the remaining 20 per cent.
The two revoked permits cover a combined area of 166.48 square kilometres. SEMICO’s concession covered 113 square kilometres in the Ségala area of Kéniéba, while Kofi SA’s permit covered 53.48 square kilometres at Kofi-Nord.
The mining operations associated with the permits include Fougala, Tabakoto and Ségala, as well as the Baboto and Bétéa open-pit operations. The cancellations therefore affect multiple mining sites linked to the group’s operations in Mali.
The permits have been removed from Mali’s mining cadastre, releasing the affected areas from the rights previously granted to the companies and allowing the state to reserve or reallocate the concessions.
However, the revocation does not absolve the companies of their existing obligations. According to the documents, SEMICO and Kofi SA remain responsible for outstanding environmental, social, fiscal and technical liabilities. They also retain civil liability for damage or accidents caused by former installations for five years.
The companies are further required to surrender geological and mining data generated from their operations to the Malian state without compensation.
The decrees do not specify the estimated cost of rehabilitation, the availability of secured funds for closure, implementation deadlines or penalties for non-compliance, raising questions about how the obligations will be enforced.
Niger’s Samira Hill Takeover
The development follows Niger’s nationalisation of Société des Mines du Liptako, the company operating the Samira Hill gold mine, in August 2025.
Nguvu’s website identifies Samira Hill as one of its former operations, stating that it acquired the asset in 2019 and held an 80 per cent interest, with Niger’s state-owned mining company, SOPAMIN, holding the remaining 20 per cent.
The Nigerien government said the nationalisation was prompted by alleged serious contractual breaches by the majority investor, identified officially as McKinel Resources Limited, and concerns about the mine’s financial and operational condition.
Authorities cited alleged failures to implement agreed investment plans, unpaid taxes and salaries, mounting debts, worker dismissals, supply disruptions and declining production. The government said the takeover was necessary to protect a strategic national asset and restore state control.
Although the Mali and Niger developments involve mining assets linked to Nguvu, the reasons given for the Samira Hill nationalisation should not automatically be applied to the revoked Malian permits.
The Malian decrees reviewed by the media do not state why the permits were cancelled, and no official finding has been established in the documents linking the decisions to unpaid taxes, salary arrears, investment failures or mismanagement at the two Malian operations.