Africa: Mining reform in Mali, towards responsible and innovative resource management
Mali has launched an ambitious plan to reform the mining sector aimed at making it more transparent and profitable, while promoting the inclusion of local businesses and workers to make the gold sector a major pillar of the booming national economy.
The Malian government has confirmed the implementation of three key measures. These measures, in addition to cleaning up the sector, aim to improve Mali’s reputation among major international players eager to invest in the country and awaiting a more rigorous and coherent legal framework before committing.
Firstly, there will be strengthened controls to ensure compliance with laws and regulations. This will include more frequent inspections at mining sites and increased monitoring of mining activities to prevent illegal practices.
Secondly, sanctions will be applied without reservation to companies attempting to defraud. This will include hefty fines, revocation of mining licenses, and legal action against offenders.
Finally, a tracking system will be put in place to ensure better traceability of mining resources. This will enable tracking of minerals from extraction to commercialization, thereby ensuring responsible and ethical mining.
Mali also seeks to diversify the processing of its resources by considering turning to lithium, a resource increasingly demanded by specialized companies, particularly in the production of batteries for electric vehicles on a global scale.
This initiative aims to capitalize on global electrification trends and further stimulate the country’s economic development.
