On Monday 28 August 2023, the President of the Malian transition, Colonel Assimi Goïta, promulgated the new Malian Mining Code. The new code strengthens the interests of the Malian state.
For months, some thirty experts worked on the project. It all started with an audit of the mining sector in Mali, with the aim of finding ways and means of making “gold shine for Malians”. Working with a technical team from the Ministry of Economy and Finance, Iventus-Mazars identified a number of anomalies in Mali’s mining sector. Based on the recommendations, the draft Mining Code was drawn up and adopted by the transitional legislative body. The adoption of the text and its promulgation are in the interests of the Malian people. The Code channels a larger share of revenues into the public treasury and increases public and private Malian interests in new projects.
The new code allows the government to take a free 10% stake in mining projects and the option to buy a further 20% within the first two years of commercial production. An additional 5% stake is ceded to local companies, bringing Malian public and private interests in new projects to 35%, up from 20% today.
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