Mali: Towards the implementation of the 2023 mining code for existing gold mines to address revenue shortfall
The Malian government has announced its intention to apply the new 2023 mining code to gold mines already in operation, a move aimed at addressing the financial disparities observed in the mining sector. This decision follows an audit that revealed a significant revenue shortfall for the state, estimated between 300 and 600 billion CFA francs.
The 2023 mining code introduces reforms aimed at strengthening the state’s participation in mining revenues and better regulating the activities of operating companies. Mali hopes to recover past losses and ensure a larger share of profits for the state’s coffers, thus contributing to the financing of national development projects.
This approach is part of the government’s efforts to maximize the economic returns from its natural resources and to ensure that gold, a pillar of the Malian economy, directly benefits the country’s development. Recovering the lost revenues will also help strengthen transparency in the mining sector and ensure a better distribution of wealth for the benefit of the Malian population.
By implementing these measures, Mali is reaffirming its commitment to modernize and regulate its mining sector, while safeguarding its economic sovereignty in the face of international financial challenges.
