Mali gold mining revenue fell by 26% in 2023
05/06/2024 17:57
BAMAKO, June 5 (Reuters) - State revenue from gold
mining companies in Mali fell 26% last year, hit by lower taxes,
a document from the west African country's mines ministry showed
on Wednesday.
Mali is one of Africa's top gold producers and is home to
mining companies including Barrick Gold ABX.TO , B2GOLD
BTO.TO , Resolute Mining RSG.AX and Hummingbird Resources
HUMR.L .
The revenue paid by mining companies to the Treasury fell to
563.8 billion CFA francs ($936.54 million) last year from 763.6
billion CFA francs in 2022, according to the document shared
with Reuters.
The decrease in revenue was mainly due to lower taxes, which
had fallen to 384.9 billion CFA francs last year from 532.7
billion in 2022.
The document did not provide any explanation for the
reduction in taxes paid in 2023.
Last year, Mali adopted a new mining code which will allow
the military-led government to increase its ownership of gold
concessions and recoup what it says is a major shortfall in
production revenues.
Economy minister, Alousseni Sanou, said last month that the
country's recent deal with China's Ganfeng Lithium 002460.SZ
could bring Mali between 110 billion and 115 billion CFA per
year from 2025.
($1 = 602.0000 CFA francs)
(Reporting by Tiemoko Diallo; Writing by Anait Miridzhanian;
Editing by Alexandra Hudson)
((Anait.Miridzhanian@thomsonreuters.com;))