Mali's auditor general recommends review of mining contracts
BAMAKO – Mali's transitional government aims to review mining conventions signed with companies by the previous administrations, interim President Bah N'daw, said late on Friday following recommendations from the country's auditor general.
Mali is one of Africa's largest gold producers. Companies operating in the country include Barrick Gold and AngloGold Ashanti and Resolute Mining.
"The conventions establishing mining companies include clauses which do not always guarantee the protection of the interests of the state," Auditor General Samba Alhamdou Baby said after handing his report to the interim president.
"In particular the non-distribution of dividends, the non-payment of certain taxes, to which is added the existence of unjustified loans, all of which deprive the State of financial resources," he said.
He added that a review of the conventions would better protect the interests of the state while respecting incentives for mining companies.
Parliament approved a new code in April that eliminates mining companies' value added tax exemptions during production and shortens the period during which they are protected from fiscal changes to 20 years.
N'daw said the recommendations were instructions to the interim administration, which he said would make the mining sector a priority during its 18-month term.
"I will assure you that everything will be done so that the state assumes its responsibilities and receives from the mining sector what is due to it," N'daw said.
Mali's transitional government was appointed early this month following the Aug. 18 military coup that ousted the government of President Ibrahim Boubacar Keita.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...
VISIT SHOWROOM
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
