MALI: Gold must shine for Malians!

The head of state, Colonel Assimi Goïta, promulgated a new mining code this monday, the presidency indicated on social networks on tuesday.This code will allow the Malian state to take up to 30% participation in new projects and to increase revenues from this vital sector for the national economy.

With 72.2 tonnes produced in 2022, gold contributed 25% of the national budget, 75% of export earnings and 10% of GDP, said then-minister of mines Lamine Seydou Traoré in March.

For the new Minister of mines Amadou Keita, the objective of this reform is to raise the contribution of the mining industry to 15 or 20% of GDP.

According to the latter, this code should bring in at least 500 billion CFA francs (762 million euros) to the annual state budget.

The Malian mining sector is dominated by foreign groups, such as the Canadian Barrick Gold and B2Gold, the Australian Resolute Mining or the British Hummingbird Resources, which operate despite the jihadist expansion and political instability to which the country has been subject for years.

Note that the Malian junta, which came to power in 2020, has set itself the task of restoring sovereignty, which has cost it its relations with France.

Colonel Assimi Goïta has always proven his ambition to share the country’s wealth with the people, by undertaking reforms so that « gold shines for Malians »

Sandra TOURE