Mali has reclaimed $1.2 billion in unpaid mining taxes after a sweeping audit exposed major revenue shortfalls, marking one of the country’s largest recoveries from its extractive sector. This financial clawback, which far exceeded initial targets, results from a newly enacted mining code designed to boost national revenues. The stricter law increases royalties, grants the state larger ownership stakes, and ends lucrative stability clauses for firms. While the reform prompted a protracted dispute with a top gold producer, most companies have now settled and operate under the new rules. Officials project the changes will generate an additional $950 million annually, significantly bolstering a critical sector for Mali’s economy. While the overhaul strengthens state control and oversight, it has also slowed industrial gold output, underscoring the delicate balance between tightening regulation and sustaining growth.
Reuters
