Mali Mine Minister Traore Says New Mining Code to Be Introduced Next Month
Mali Minister Says New Mining Code to Be Introduced in Oct.
Tony Ashby/Bloomberg
Mali's Mines Minister Abou Bakar Traore speaks during the 2010 Africa Down Under Conference in Perth.
Mali's Mines Minister Abou Bakar Traore speaks during the 2010 Africa Down Under Conference in Perth. Photographer: Tony Ashby/Bloomberg
Mali, Africa’s third-biggest gold producer, will introduce a new mining code in October to encourage more investment in its minerals industry, Mines Minister Abou Bakar Traore said.
“There are many positive aspects to this code and I know that it will pass,” Traore told reporters today through an interpreter at a conference in Perth. “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. All active companies’ licenses will be renewed without changing their permits, the news agency had said.
To contact the Bloomberg News staff on this story: Jason Scott in Perth at jscott14@bloomberg.net
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