Mali has adopted a new mining code that aims to increase the sector’s contribution to GDP to between 15 and 20%, up from a current 9%, the mines ministry said on Tuesday.
The government announced the review of the mining code in January after it said an internal audit had shown that Mali, one of Africa’s biggest gold producers, was not receiving a fair share of profits while granting too many tax breaks.
A draft of the code seen by Reuters before it was passed showed proposed changes that could boost state and private Malian interests in new projects to 35%, from up a current 20%.
It was not immediately clear whether those proposals had been enacted in the new code.
Source:
Reuters
