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Mali’s new mining code

Mali’s mines
minister, Abou
Bakar Traore
Perth, Australia — MININGREVIEW.COM — 01 September 2010 – Africa’s third-biggest gold producer “’ the West African state of Mali “’ plans to introduce a new mining code in October in a bid to attract further investment in the country’s minerals industry.

Making this announcement at the Africa Down Under mining conference here, mines minister Abou Bakar Traore told reporters that there were many positive aspects to this code. “I know that it will pass,” he said through an interpreter. “It assures investor participation in Mali and it takes more account of the mining sector’s contribution to the overall economy.”

Companies that own permits and are not digging may lose their rights under the proposed new law, Reuters reported in June, citing the minister. The licences of all active companies will be renewed without changing their permits, the news agency said.