Posted in | News | 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

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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