Public Management

Mali suspends the issuance of mining permit, till further notice

Mali suspends the issuance of mining permit, till further notice
Wednesday, 30 November 2022 13:47

The mining sector contributes nearly 10% of Mali’s GDP and accounts for almost 80% of its exports. Due to its importance to the economy, transition authorities have launched an audit of its gold mines, where its main mineral resources are exploited.

Mali has temporarily suspended the issuance of mining licenses, the Ministry of Mines informs in a release issued last November 28.

According to Mines Minister Lamine Traoré, the measure is taken because of the need to improve the license issuance process and “better serve mining actors.”

The said suspension, which will remain in place until authorities decide otherwise, comes in a particular context that portends great changes in the country’s mining sector. Indeed, earlier this year, authorities launched an audit of the gold mines exploited in the country. Also, earlier this month, the Transition President signed a decree creating a national mining corporation. The moves are all aimed at boosting the revenues the country generates from the sector.  

As a reminder, gold accounts for more than 98% of mineral production in Mali, according to EITI 2019 data. The same source reveals that the mining sector contributes 10% to its GDP and accounts for 80% of its exports.

Emiliano Tossou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
DRC launches campaign to diversify investors in government securities 98% of bonds now held by banks; aim is to reduce risk and broaden...
Verdant Capital has invested $3 million in Nigerian fintech Bfree to help recover distressed loans in Africa. The deal will allow Bfree to...
Côte d’Ivoire will receive $234 million for a sustainable urban mobility project in Abidjan. Gambia will receive $32.2 million to build...
Stanbic IBTC and Zenith Bank cut monthly card spending abroad to $500 and $200 Foreign reserves fall by $3.5 billion in six...
Most Read
01

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
02

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
03

• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...

WAEMU Sees Easing Conditions on Regional Interbank Market
04

• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 m...

EY’s Exit Creates $1bn Opportunity in Francophone Africa Consulting Market
05

As cybersecurity asserts itself as a pillar of digital sovereignty in West Africa, technology-free z...

Cybersecurity Key to Côte d'Ivoire's Tech Future– VITIB's N'ZI
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.