Posted in | Gold | Crude Oil / Petroleum

Mali Looks to Attract More Mining Investment with New Mining Code

The Mali government is hoping to attract new investments in the mining industry with its new mining code.

Mines and Petroleum Minister for Mali, Abou Bakar Traore said that fifth version of the mining code was aimed at making resources sector investments more luring to foreign investors.

Traore said that there were several positive aspects to the new code to ensure investor participation in Mali. It also took into account the mining sector’s contribution to the overall national economy including community development and environmental protection.

He also mentioned that while all active companies will have their licenses renewed without changing their permits, companies that own permits and are not digging will lose their rights under the new proposed law.

Gold mining has a 20 year old history in Mali. It currently represents about 8 to 10 % of Mali’s gross domestic product and employees about 10,000 people. Mali also has significant petroleum resources with five basins identified. About 29 petroleum blocks are currently being explored extensively.

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

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