https://en.sputniknews.africa/20250112/mali-to-receive-12-billion-from-miners-over-disputes-after-sector-overhaul-economy-minister-says-1070142215.html
Mali to Receive $1.2 Billion From Miners Over Disputes After Sector Overhaul, Economy Minister Says
Mali to Receive $1.2 Billion From Miners Over Disputes After Sector Overhaul, Economy Minister Says
Sputnik Africa
In recent months, the Malian government has sought back taxes and dividend payments from several mining companies after an audit reportedly found that between... 12.01.2025, Sputnik Africa
2025-01-12T13:56+0100
2025-01-12T13:56+0100
2025-01-12T13:56+0100
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Mali's government expects to receive a total of 750 billion CFA francs ($1.2 billion) from international mining companies by March 31, 2025 to settle tax and contract disputes, Malian Minister of Economy and Finance Alousseni Sanou said in a speech to parliament televised by state broadcaster ORTM.Last December, Mali had already received part of the payments due, namely 500 billion CFA francs (about $782,000), as a result of several agreements reached with mining companies following amendments to the country's mining legislation, Sanou noted.In November 2024, the Malian authorities arrested Australian Resolute Mining's CEO and two other employees over a tax dispute with the company. The dispute was settled, and the company had already paid the first $80,000 of the $160,000 demanded by the government.However, the dispute with Canada's Barrick Gold over disagreements on contract terms following Mali's adoption of new mining regulations in 2023 remains unresolved, leading to threats that the company would cease operations in the country. In August 2023, Mali's President Assimi Goita adopted a revised mining code, which aims to increase government revenues. The new code increased the maximum stake for state and local investors from 20% to 35%, and also included provisions for a 10% government stake in mining projects, with an additional 20% purchase option within two years of production, and a 7.5% sales royalty if gold prices exceed $1,500 per ounce.
https://en.sputniknews.africa/20230829/mali-president-looks-to-raise-government-mining-revenue-and-boost-growth-1061714915.html
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mali, west africa, economy, assimi goita, canada, australia, north america, taxes, regulation, law, mining, gold, gold miners, government
mali, west africa, economy, assimi goita, canada, australia, north america, taxes, regulation, law, mining, gold, gold miners, government
Mali to Receive $1.2 Billion From Miners Over Disputes After Sector Overhaul, Economy Minister Says
Elizaveta Roschina
Writer/Editor
In recent months, the Malian government has sought back taxes and dividend payments from several mining companies after an audit reportedly found that between 300 and 600 billion CFA francs (about $469,000-$938,000) had been underpaid to the state budget.
Mali's government expects to receive a total of 750 billion CFA francs ($1.2 billion) from international mining companies by March 31, 2025 to settle tax and contract disputes, Malian Minister of Economy and Finance Alousseni Sanou said in a speech to parliament televised by state broadcaster ORTM.
Last December, Mali had already received part of the payments due, namely 500 billion CFA francs (about $782,000), as a result of several agreements reached with mining companies following amendments to the country's mining legislation, Sanou noted.
In November 2024, the Malian authorities arrested Australian Resolute Mining's CEO and two other employees over a tax dispute with the company. The dispute
was settled, and the company had already paid the first $80,000 of the $160,000 demanded by the government.
However, the dispute with Canada's Barrick Gold over disagreements on contract terms following Mali's adoption of new mining regulations in 2023 remains unresolved, leading to threats that the company would
cease operations in the country.
In August 2023, Mali's President Assimi Goita adopted a revised mining code, which aims to increase government revenues. The new code increased the maximum stake for state and local investors from 20% to 35%, and also included provisions for a 10% government stake in mining projects, with an additional 20% purchase option within two years of production, and a 7.5% sales royalty if gold prices exceed $1,500 per ounce.
