Loulo-Gounkoto Overtakes Kibali as Africa’s Top Gold Mine in 2024
With a production of 723,000 ounces of gold in 2024—an increase of approximately 6% from the previous year—Mali’s Loulo-Gounkoto mining complex has become Africa’s largest gold-producing mine.
It surpassed the Kibali mine in the Democratic Republic of Congo (DRC), which reported a 10% decline in output to 686,000 ounces.
The statistics, released on February 12, 2025, by Barrick, highlight a major shift in gold production rankings on the continent.
For years, Kibali consistently outproduced Loulo-Gounkoto, but the gap has gradually narrowed. By 2024, the roles reversed, with Kibali struggling to meet its targets.
“At the start of the financial year, Barrick and its joint venture partner AngloGold Ashanti projected Kibali’s output to be between 711,000 and 800,000 ounces.
However, by the end of the first three quarters of 2024, the mine had produced just 509,000 ounces—an 8% year-on-year decline,” a source revealed.
While production increased slightly in the first two quarters—reaching 350,000 ounces (up 4% from 2023)—the third quarter saw a steep 28% drop due to lower gold grades, according to AngloGold Ashanti. Despite a minor rebound in the fourth quarter, overall performance remained below the previous year’s levels.
Looking ahead, the two mines face contrasting prospects. Barrick forecasts a recovery for Kibali in 2025, setting production targets between 688,000 and 755,000 ounces. In contrast, Loulo-Gounkoto’s future is uncertain due to an ongoing dispute with the Malian government.
“Due to the temporary suspension of operations at Loulo-Gounkoto, we have excluded the mine from our 2025 guidance,” Barrick stated. “We plan to update our guidance once we have better visibility on when operations will resume.”
If the suspension continues, Kibali could reclaim its position as Africa’s top gold mine in 2025—provided Barrick successfully addresses the operational challenges that hindered its performance last year.
