https://www.miningweekly.com

Mali's new mining code shortens stability period to 10 years – ministry

26th August 2019

By: Reuters

  

Font size: - +

BAMAKO – Under a new mining code, companies operating in Mali will be protected from fiscal changes for 10 years, down from the previous "stability period" of 30 years, a senior mines ministry official told Reuters on Friday.

On Wednesday, the ministry announced the new code, which also ended an exemption from value-added tax during production, but did not specify by how much it would shorten the period under which firm's investments are protected from changes to fiscal and customs regimes.

Companies operating in the country include Barrick Gold Corp , B2Gold, Hummingbird Resources and AngloGold Ashanti.

Lassana Guindo, a technical advisor at the ministry who is in charge of the new code, said the shorter stability period was in line with regional norms.

"In the subregion, Mali was one of the few countries to have a long (stability period)," he said.

The new code is an opening salvo in what could be a protracted negotiation between the government and corporates over mining regulation in Africa's third-largest gold producer. The move is seen by some as a new instance of resource nationalism on the continent.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.057 0.885s - 128pq - 2rq
Subscribe Now