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Mining overhaul could raise $883 million for Mali projects
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Mali could raise up to 883 million dollars from recent mining reforms to help fund energy, water and transport projects, according to the country’s finance minister.
It is the clearest sign yet of how the military government plans to use the windfall from its 2023 mining code overhaul, which increased royalties and boosted the state’s stake in mining projects.
Officials said in December that a government audit had recovered about 1.3 billion dollars in alleged arrears from mining companies.
Transport Minister Dembélé Madina Sissoko said proposed projects include rail upgrades, road construction, boat purchases and support for state airline Mali Airlines.
Smuggling costs billionsArtisanal mining is a major pillar of Mali's economy, employing nearly two million people across an estimated 350 to 400 mining sites.