Mali will partially lift its suspension on mining permits starting March 15, as announced by the mines ministry. This comes after a complete halt of all mining title allocations since November 2022 aimed at improving the permitting process. The new mining code introduced in 2023 has increased taxes and given the state greater interests in mining assets.

Under the new directive, applications for the renewal of search and exploitation permits, transitions from search to exploitation, and transfers of exploitation permits will be accepted. However, the issuance of new permits and transfer of search permits will continue to be suspended.

Concerns have been raised regarding profits from unregulated mining potentially benefiting extremists in northern Mali. Gold is Mali’s principal export, making up over 80% of its total exports in 2021, according to the International Trade Administration. The mining sector supports over 2 million people, or about 10% of the population.

Mali ranks among Africa’s top three gold producers, with significant companies like Barrick Gold and B2Gold involved. There have been increasing tensions between military authorities and mining corporations concerning financial obligations and compliance with the updated mining code, notably with Barrick facing legal issues and state confiscation of gold.

Mali’s mines ministry is set to partially lift the mining permits suspension on March 15, while continuing to restrict the issuing of new permits. The updated mining code strengthens state interests and raises taxes, responding to both operational improvements and security concerns related to unregulated mining. Gold remains critical for Mali’s economy, linking millions to the mining sector.

Original Source: von.gov.ng

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