“Mali will receive US$1.2 billion from mining companies in the first quarter of 2025 after overhauling its mining sector.”, — write: epravda.com.ua
Mali will receive US$1.2 billion from mining companies in the first quarter of 2025 after overhauling its mining sector. This is reported by Bloomberg. Mali received 500 billion CFA francs in late December after negotiations with mining companies, Finance Minister Alousseni Sanu said in a speech to parliament. The total amount is expected by March 31, Sanu told Mali’s National Transitional Council. Mali’s military leadership has taken a tough stance on international miners, having carried out a major reorganization of the industry in recent years. It adopted a new mining code and ordered companies to pay millions of dollars in taxes and dividends after an audit revealed a shortfall of between 300 billion and 600 billion CFA francs in government revenue. Last year, the Australian company Resolute Mining Ltd. agreed to pay about $160 million to settle a tax dispute after the government detained the gold miner’s CEO in November. B2Gold Corp. and Allied Gold Corp. also announced in September new agreements involving compensation payments for the Fekola and Sadiola mines, respectively, as well as production expansion projects.