• Government approves decrees applying 2023 mining code to four major mines
• State shareholding in mines raised to 35%, with priority dividend rights
• Agreements cover Sadiola, Syama, Goulamina, and Bougouni projects

The Malian government announced on September 19 that it has approved decrees implementing new agreements on two lithium mines, Goulamina and Bougouni, as well as the Sadiola and Syama gold mines. The decision follows months of talks with project operators to align operations with the country’s new mining code adopted in 2023.

“Under these protocols, the State of Mali and mining companies have signed new establishment agreements for the production phase. The decrees approve these agreements, which include, among other measures, an increase in the State’s shareholding and its conversion into non-contributory, non-dilutable stakes with priority dividend rights,” the government said in a statement.

The 2023 mining code introduced major reforms, raising Mali’s potential ownership in mining projects to 35% from 20% previously. This includes a free 10% stake for the government and up to 25% acquired on commercial terms, with 5% reserved for local investors. These terms were central to agreements signed in 2024 with Allied Gold (Sadiola), Kodal Mining (Bougouni), and Ganfeng Lithium (Goulamina).

Resolute Mining also signed a memorandum of understanding with Bamako in December 2024, covering a $160 million payment to the government and the application of the new mining code at the Syama mine. Specific terms of this agreement have yet to be disclosed.