Mali: Mining sector reforms under the presidency of Colonel Assimi Goïta
Since taking office in August 2020, the transitional President of Mali, Colonel Assimi Goïta, has spearheaded a series of ambitious reforms aimed at revitalizing the nation’s crucial mining sector, which significantly contributes to Mali’s GDP and export revenue.
During a Council of Ministers meeting on July 10, 2024, several key decrees were passed to modernize and strengthen the mining industry’s legislative framework.
These reforms are designed to promote transparency and efficiency in managing the country’s mineral resources. Highlights include:
- New decrees outlining the application of mining laws and local content requirements.
- Approval of standard conventions for mining exploration and exploitation phases.
- Initiatives to diversify the exploitation of mineral resources and promote strategic substances like lithium.
In a significant development, the Malian government recently inked a strategic agreement with Uranium One Group, a subsidiary of Russia’s state-owned nuclear energy corporation, Rosatom.
Valued at approximately 500 million CFA francs, the deal will expedite the exploration and development of the Bougoula lithium permit in the Bougouni region.
This initiative aims to locally transform lithium concentrate into lithium batteries, boosting Mali’s energy and technological independence.
These reforms are intended to impose stricter mining conditions and better safeguard the national interests of Mali.
New measures include higher taxes and royalties and enhanced environmental and social responsibility requirements for mining companies.
President Goïta’s reforms are set to transform Mali’s mining sector into a robust and transparent economic pillar.
By reinforcing the legislative framework, supporting exploration and exploitation, and bolstering local capacities, the transitional government aims to ensure a more equitable and sustainable management of the country’s mineral resources.
These steps are expected to increase state revenue and promote inclusive socio-economic development in mining regions.
Neil CAMARA
